About this home
Outstanding investment and redevelopment opportunity on approximately 0.55 acres with Medium Scale Housing zoning, offering excellent potential for a 32-unit apartment development (buyer to verify development plans with the City of Vernon).The property includes a well-maintained 3-bedroom home currently rented for $2,600 per month to clean, reliable tenants, providing immediate cash flow while development plans are finalized. This is an ideal holding property for developers and investors looking to generate income throughout the planning process. Strategically located on Okanagan Landing Road, the property is just minutes from Okanagan Lake, schools, parks, shopping, public transit, and downtown Vernon. Positioned within one of Vernon's fastest-growing areas, this site benefits from strong demand for higher-density housing and excellent access to amenities. Whether you're an experienced developer or an investor seeking a high-potential land holding, this property offers an exceptional opportunity to secure a Medium Scale Housing development site with existing rental income in a highly desirable location.
Highlights & things to check
Highlights
- The 0.55-acre site is zoned Medium Scale Housing (MSH), per City of Vernon map facts.
- Per the listing, the property is rented for $2,600 per month while development plans are finalized.
- The property is not in a flood or wildfire hazard permit area, per City of Vernon map facts.
- Okanagan Lake is 2.6 km away and Ellison Elementary is 390 m away, straight-line.
Things to check
- The listing says buyers should verify the 32-unit apartment potential, so ask the City of Vernon what this site allows.
- The property uses a septic tank for sewer, so ask about its condition, capacity and any requirements for development.
- The City has a development application on file within about 400 m. See City of Vernon map facts for details.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Living at 5565 Okanagan Landing Road
Neighbourhood scores
8 / 10Walk & bike score: 5.3 / 10, from how close the nearest school, park or trail, rec centre and town centre are.
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Scores and distances are Sean Phillips’s own measure of straight-line distance from this home to public B.C. map data (schools, parks and trails, lakes, town centres, rec centres, hospitals). They are not part of the MLS® listing; please check anything that matters to you.
Distances from the front door
Straight-line distances. Driving distances are longer.
Room sizes
Main level · 6 rooms
- Laundry room5' x 7'
- Primary Bedroom11' x 12'
- Full bathroom
- Dining room12' x 14'
- Living room12' x 23'
- Kitchen8' x 12'
Lower level · 3 rooms
- Unfinished Room13' x 24'
- Bedroom12' x 24'
- Bedroom9' x 12'
Property details
- Price
- $1,100,000
- MLS® number
- 10395031
- Property type
- Single-family home · House · Single Family
- Ownership
- Freehold
- Bedrooms
- 3
- Bathrooms
- 1
- Living area
- 1,630 sq ft
- Lot size
- 0.55 acres · 0.55
- Year built
- 1964
- Storeys
- 1
- Annual taxes
- $3,750
- Community
- Okanagan Landing, Vernon
Features
- Style
- Bungalow
- Heating
- Forced air
- Water
- Municipal water
- Sewer
- Septic tank
City of Vernon map facts
- Zoning
- Medium Scale Housing (MSH). See what this zone allows, including suites
- Future plans (OCP 2025)
- Neighbourhood: Urban
- City neighbourhood
- Okanagan Landing
- Flood hazard area
- No, not in the City’s flood hazard permit area.
- Wildfire hazard area
- No
- Nearest fire hall
- About 2.8 km away (Fire Hall 2), straight-line distance. Inside the 10-minute response area for Station 1 (Downtown) and Station 2. A nearby fire hall matters for home insurance and for emergencies: firefighters are often first on scene for medical calls too.
- Garbage and organics
- Friday Biweekly Garbage Pickup (Week 2 of 2), Friday Weekly Organics Pickup
- What’s planned nearby
- 2400 FULTON RD: To vary the following sections of Zoning Bylaw 6000 for the placement of a modular classroom: - Section 13.1.5 to reduce the minimum setback from a lot line abutting a street to a modular classroom from 6.0 m to 0 m. Application
From the City of Vernon’s public maps, checked 2026-10-22. Not part of the MLS® listing. Please confirm anything important with the City of Vernon.
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Listing information is provided by Coldwell Banker Executives Realty through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-09-30.