This property near downtown Kelowna only costs $2 million — for the lot

A quarter-acre vacant property at the foot of Knox Mountain and across the road from Okanagan Lake is on the market for almost $2 million.

The 0.22 acre lot is the northernmost of eight on the downtown end of Poplar Point Drive and is zoned to allow two homes to be built on it.

“Seize this remarkable opportunity to acquire a semi-waterfront haven, where you can relish in breathtaking lake views, cherish the tranquil surroundings, and create an exceptional residence tailored to your desires,” states the real estate listing by Shannon Stone of Stone Sisters/Re/Max Kelowna. “Located on a quiet street yet within convenient proximity to the downtown core, Cultural District, Kelowna Yacht Club, Innovation Centre, and more.”

BC Assessment valued the property at 483 Poplar Point Drive at $1.5 million last year. That is about the same value it put on the land for each of the neighbouring properties.

The assessment did not include the small, 918 square foot house with two bedrooms and one bathroom that was built in 1955 and has since been removed.

The property sold in November 2021 for $1.7 million, according to BC Assessment.

“Whether you envision a luxurious duplex or have specific design requirements in mind, the esteemed Edgecombe Builders Group, renowned for their craftsmanship, have thoughtfully curated plans available for construction,” the listing says. “Alternatively, Edgecombe Builders can build to suit accommodating a unique vision and ensuring a dream home harmonizes perfectly with this extraordinary location.”

The Stone Sisters also have a listing for a 16-foot wide waterfront property near the southern end of the city.

READ MORE: iN PHOTOS: This 16-foot-wide Okanagan lakefront lot on sale for $1 million

That parcel is on sale for just under $1 million and is 0.135 acres. That makes the Poplar Point property about $40 per square foot more expensive but it comes with the ability to hook up to water, sewer and power as well as the right build a large home or two on it, all of which the Lakeshore Drive property lacks.

See the listing here.

To contact a reporter for this story, email Rob Munro or call 250-808-0143 or email the editor. You can also submitphotos, videos or news tips to the newsroom and be entered to win a monthly prize draw.

We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above.