Updates mentioned by the listing
- RoofUpdated (year not given)“Major components have been updated, including the roof and heat pumps.”
From the listing description. Ask Sean to confirm ages and receipts before you write an offer.
About this home
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.
Highlights & things to check
Highlights
- Two sides, each with its own living space: one owner-occupied upstairs and down, the other with separate upper and lower tenant units, per the listing.
- Elevated lot with city views and peekaboo lake views; Okanagan Lake is about 780 m away.
- R4-L zoning allows up to four dwelling units and buildings up to three storeys above approved grade, per the listing.
- Roof and heat pumps have been updated, per the listing.
Things to check
- Ask for the years the roof and heat pumps were updated, and for records of other upgrades, since the home was built in 1969.
- Ask the City of Penticton whether each suite, including the in-law-style basement suite, is permitted.
- Ask for current leases and rent rolls, since the listing says existing rents are below market.
- Ask the City about setbacks, measurements and servicing, as the listing asks buyers to verify these.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Living at 355 & 357 Gwyer Street
Neighbourhood scores
8.8 / 10Walk & bike score: 7.4 / 10, from how close the nearest school, park or trail, rec centre and town centre are.
Family Home Match
Everyone in the family marks what matters to them (Skip, Nice or Must), and every home gets a match score. Kids too.
Set up my family’s matchYour answers stay on your phone or computer.
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 · 12 rooms
- Living room13'11'' x 17'4''
- Kitchen10'0'' x 11'9''
- Dining room9'2'' x 11'9''
- Bedroom13'9'' x 10'5''
- Bedroom13'10'' x 11'9''
- 4pc Bathroom5'0'' x 8'1''
- Living room14'1'' x 17'5''
- Kitchen10'1'' x 11'9''
- Dining room9'2'' x 11'10''
- Bedroom13'10'' x 10'4''
- Bedroom13'11'' x 11'10''
- 4pc Bathroom5'0'' x 8'1''
Basement · 10 rooms
- Primary Bedroom16'6'' x 10'9''
- Laundry room13'0'' x 10'3''
- Kitchen13'11'' x 17'4''
- Family room13'0'' x 15'0''
- 4pc Bathroom5'0'' x 10'2''
- Recreation room13'0'' x 12'0''
- Primary Bedroom18'7'' x 10'11''
- Laundry room13'0'' x 10'2''
- Kitchen13'0'' x 16'9''
- 3pc Bathroom5'2'' x 10'3''
Property details
- Price
- $1,120,000
- MLS® number
- 10399671
- Property type
- Townhome / duplex · Duplex · Single Family
- Ownership
- Freehold
- Bedrooms
- 6
- Bathrooms
- 4
- Living area
- 3,978 sq ft
- Lot size
- 0.26 acres · 0.26
- Year built
- 1969
- Storeys
- 2
- Parking spaces
- 4
- Annual taxes
- $5,771
- Community
- Uplands/Redlands, Penticton
Features
- Basement
- Full
- Heating
- Heat Pump
- Cooling
- Heat Pump
- Roof
- Asphalt shingle, Unknown
- Exterior
- Stucco
- Lot
- Two Balconies
- Water
- Municipal water
- Sewer
- Municipal sewage system
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Listing information is provided by Chamberlain Property Group through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-10-15.