$2,175,000
1348 Cedar Street
Beds
1
Baths
1
Sqft
—
Year
1950
Location
See the block, not just the house.
Open the map for street view, commute checks, and nearby schools, groceries, mosques, parks, and transit stops.
About this home
Strategic 3.92-acre development opportunity in the core of Okanagan Falls. Designated Medium Density Residential (MR) in the Official Community Plan, this site is well-positioned for future multi-family development, with established strata communities on both sides supporting continued residential growth. The property is predominantly flat and extends from Cedar Street through to the river, offering a practical and efficient layout for site planning. With existing access, nearby services, and surrounding density already in place, this parcel presents a compelling opportunity for developers seeking a viable project in an emerging market. The size and configuration may lend itself to a phased approach, allowing flexibility in planning and execution. A 1,250 sq ft, 2-bedroom, 1-bath home currently occupies the property and may provide holding income during the planning and approval process. Located just south of Penticton at the base of Skaha Lake, Okanagan Falls continues to see interest from buyers seeking more attainable housing options within the South Okanagan. Buyer to verify all development potential, servicing, and zoning requirements with the appropriate authorities. Viewing by appointment only. (id:65958)
- Subtype
- Single Family
- Architectural style
- Ranch
- Structure
- House
- Community
- Okanagan Falls
- Common interest
- Freehold
- Living area
- 1,267 square feet
- Lot size
- 3.92 acres
- Lot dimensions
- 3.92
- Stories
- 2
- On market
- Jul 2, 2025
- Status changed
- Apr 15, 2026
- Annual tax
- $3,048
- Photos
- 20
- MLS#
- 10354184
- Area
- OKANAGAN_FALLS
Features and systems
Heating
Lot
Community
Waterfront
Cash on cash
-11.42%
Cap rate
3.61%
GRM
16.7
Break-even rent
$15,232
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Lifestyle nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Okanagan Falls. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 15, 2026.