156 NANAIMO Avenue

$1,999,900

189976
MLS#

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Description

Developers only. While this property has a 7-unit apartment building on two of the three lots (totaling 11892 sq. ft.) netting $49,000, we are not attempting to sell this as a revenue property - this is for development. It is in a unique, high-potential location 2 blocks east of downtown Penticton's Main Street and feet away from Penticton Creek that has a walking path right to Okanagan Lake. The site is singularly unique because the vehicular bridge that crosses the creek on Nanaimo Avenue slightly east of this property is slated to be removed next year and replaced with a pedestrian bridge, effectively making this a low-traffic area yet in the downtown hub. While zoned for high density, the city's Official Community Plan envisions less density - but the location could certainly warrant boutique high-end product fetching in excess of $1 million per unit, as proven by the townhouses near the river channel (Wylie Street). Note: Building showings once an offer is accepted.

Overview

  • Price $1,999,900
  • MLS # 189976
  • Age 1940
  • Water Municipal water
  • Sewer Municipal sewage system

Contact Scott for more information or to set up a viewing.

Contact Us (250) 470-2388