Outstanding investment and redevelopment opportunity on approximately 0.55 acres with Medium Scale Housing zoning, offering excellent potential for a 32-unit apartment development (buyer to verify development plans with the City of Vernon).The property includes a well-maintained 3-bedroom home currently rented for $2,600 per month to clean, reliable tenants, providing immediate cash flow while development plans are finalized. This is an ideal holding property for developers and investors looking to generate income throughout the planning process. Strategically located on Okanagan Landing Road, the property is just minutes from Okanagan Lake, schools, parks, shopping, public transit, and downtown Vernon. Positioned within one of Vernon's fastest-growing areas, this site benefits from strong demand for higher-density housing and excellent access to amenities. Whether you're an experienced developer or an investor seeking a high-potential land holding, this property offers an exceptional opportunity to secure a Medium Scale Housing development site with existing rental income in a highly desirable location. (id:44056)

Property Details

Full Address:
5565 Okanagan Landing Road, Vernon, British Columbia
Price:
$ 1,100,000
MLS Number:
10395031
List Date:
July 21st, 2026
Lot Size:
0.55 ac
Year Built:
1964
Taxes:
$ 3,750

Interior Features

Bedrooms:
3
Bathrooms:
1
Total Rooms:
Heating:
Forced air

Building Features

Architectural Style:
Bungalow
Storeys:
1
Sewer:
Septic tank
Water:
Municipal water
Ownership Type:
Freehold
Taxes:
$ 3,750

Floors

Finished Area:
1630 sq.ft.

Land

Lot Size:
0.55 ac

Neighbourhood Features

Ratings

Commercial Info

Neighbourhood Details

Location

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Graeme Magee Coldwell Banker Executives Realty
250-306-6690
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Listing Agent(s)

Lead Agent: Graeme Magee
Office: Coldwell Banker Executives Realty
Originating Board: Association of Interior REALTORS®

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