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Two Beach Avenue lots in Peachland sell $1 million over assessed value

The lots total 0.3 acres, zoned for a floor-space-ratio of 1.5FSR for mixed-use commercial or medium-density residential, and sold for $2.52 million.
Re/Max Kelowna, Kelowna, B.C., for Western Investor
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Rendering of potential development from Re/Max Kelowna, Kelowna, B.C., for Western Investor

Property type: Land

Location: 5760 and 5766 Beach Avenue, Peachland, B.C.

Size of land: 13,068 square feet (total)

Land size in acres: 0.30 acres

Zoning: CR-1

BC Assessment value: $1.52 million

List price: $2.95 million

Sale price: $2.52 million

Date of sale: November 15, 2021

Brokerage: Re/Max Kelowna, Kelowna, B.C.

Broker: Kris McLaughlin