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5
4641 Princeton Avenue
$4,090,000 Sale
Listed 153 days ago
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Key Facts
Key facts for 4641 Princeton Avenue
Property Type
Commercial, Residential Commercial Mix
Parking
Garage: No, 0 parking
MLS #
10339315
Size
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Description
Prime Development Opportunity – Panoramic Okanagan Lake Views This 2.65-acre medium-density zoned property offers an exceptional opportunity for development in Peachland. Situated just above Okanagan Lake along Princeton Avenue, an active transportation corridor, the site is perfectly positioned for... a high-quality multi-family project. Zoned RM4, the property has the potential for 46 townhomes and comes with a shovel-ready Development Permit package. The package includes a professionally engineered grading plan designed to minimize soil fill and retaining walls, along with completed geotechnical, hydrogeological, and traffic studies. A full architectural plan has been developed, featuring four terraced building areas to ensure every home enjoys breathtaking lake views. Significant financial contributions have already been made, including $90K in Community Amenity Contributions and $94K toward transportation and transit improvements, both paid to the District. Additionally, the project is eligible for approximately $130K in road improvement DCC credits, subject to District Engineering confirmation. With seller financing available and flexible closing terms, this is a rare opportunity to secure a turnkey, development-ready site in one of the Okanagan’s most sought-after locations. Serious inquiries only – full documentation and professional reports available upon request. (id:10452)
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Listing courtesy of: Oakwyn Realty Okanagan-Letnick Estates
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