5971 Princess Street, Peachland

Peachland home sells for $3M; almost twice as much as two years ago

October 3, 2023

Rob Munro, iNFOnews.ca — An older house on 1.17 acres of land overlooking Okanagan Lake sold for more than $3 million in late August.

The $3.075-million selling price is almost double the $1.8 million it was purchased for in August 2021, according to BC Assessments, which valued the land last year at a mere $1.036 million.

“This multifamily development site presents an exciting opportunity to create an exclusive residential community with 18 townhouse units boasting unobstructed 270-degree water views and rooftop patios,” states the listing by William Wright Commercial realtor Josh Jawanda, who represented the buyer.

The 2,979 square foot house was built in 1973, has four bedrooms, two bathrooms, according to BC Assessments, which valued the house at $271,000.

It’s located at 5971 Princess St., which is above Highway 97 south of Princeton Avenue in Peachland.

“The location’s natural beauty, proximity to amenities, and potential for architectural excellence make it a prime investment for developers seeking to meet the demands of a discerning market,” the listing says.

Read the full article published by iNFOnews.ca.

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This communication is not intended to cause or induce breach of an existing agency agreement. E&OE: All information contained herein is from sources deemed reliable, and have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully verified. All measurements quoted herein are approximate.