1348 Cedar Street

Description

Prime 3.92-acre development opportunity in the heart of Ok Falls. Designated Medium Density Residential (MR) in the Official Community Plan, this strategically located parcel offers excellent potential for future multi-family residential development in a growing South Okanagan community. Surrounded by established strata developments and residential neighbourhoods, the property benefits from a proven development pattern and strong compatibility with surrounding land uses. The largely level site stretches from Cedar Street to the Okanagan River, providing an efficient configuration for planning, access, and future development design. With services nearby and residential growth already established in the immediate area, this property presents a compelling opportunity for developers, builders, and investors seeking their next project. The size and layout of the parcel may also support a phased development approach, offering flexibility throughout the planning and construction process. An existing 1,250 sq. ft. home is situated on the property and may provide interim holding income while development plans are explored. Ideally located at the south end of Skaha Lake, Okanagan Falls continues to attract residents seeking a more attainable lifestyle within the South Okanagan, just minutes from Penticton, wineries, beaches, recreation, and amenities. Buyer to conduct their own due diligence regarding development potential, servicing capacity, zoning, and municipal requirements. (id:63159)

Property Details

Annual property tax

$3,780

Brokerage

eXp Realty

Community features

Family Oriented

Location Insights

Weather

Nearest station: Penticton

25°C

Partly Cloudy

Humidity 41%

Wind SSE 23 km/h

Today

27°

Tonight

15°

Thursday

23°

Thursday night

7°

Friday

21°

Friday night

9°

Source: Environment and Climate Change Canada.