355 & 357 Gwyer Street, Penticton

About this property

A unique opportunity in a sought-after Penticton location, this full duplex offers rental income, flexible living arrangements and future potential. Perched above the neighbourhood, the property enjoys city views with peekaboo lake views and an elevated setting that could offer even greater views with future redevelopment. One side is owner-occupied with living space upstairs and down, plus an in-law-style basement suite offering rental potential. The other side features separate upper and lower tenant accommodations, creating multiple income streams and flexibility for an investor or owner-occupier. R4-L zoning allows for small-scale multi-unit residential development, including up to four dwelling units and buildings up to three storeys above approved grade. The elevated position could provide an opportunity to maximize city and lake views with a thoughtfully designed future project. Existing rents are below market, offering potential for future upside. Major components have been updated, including the roof and heat pumps. Mature landscaping provides established character, with room to garden, entertain and make the grounds your own. Close to downtown Penticton, amenities, shopping, restaurants and the lake, this property offers plenty of options for investors, owner-occupiers or those looking toward future development. Zoning, suite status, development potential, measurements, setbacks, servicing and other development considerations should be verified by the buyer. (id:66939)