A multi-family development site in Kelowna has sold for $2.75 million, Macdonald Realty Kelowna tells Western Investor.
The one-acre parcel of land is designated for medium density housing development, suitable for a small townhome or condo project. The site was previously approved for 52-unit condo development. The property was listed for $3 million and has an assessed value of $1.65 million.
The property is located at 280 McIntosh Rd., Kelowna.
Breakdown:
Price: $2,750,000
Lot Size: 1 acre
Property Type: Land
Zoning: RM5
2017 B.C. Assessment Value: $1,650,000
City: Kelowna
Province: B.C.
Name of Brokerage: Macdonald Realty Kelowna
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