Brrrring in Kelowna, BC, Canada.
Hey all!
Planning to start investing in Kelowna within the next 18 months. Preferably looking to house hack with a duplex or buy a large 3 bedroom or standard 4 bedroom and turn it in to a duplex.
Does anyone have any experience in the Kelowna market?
Come and say hello!
Hi Nicholas,
Many homes close to the downtown area are older and run down, but are on good sized lots. These homes are becoming quickly desirable as the city core can only move in one way over the next few decades, East.
Many of these older ranchers are sitting on RU6 or RU7 zoning. RU6 allows for 2 residences, either single detached, semi detached, duplex, carriage house or suite in residence to a max of 2.5 storeys.
https://www.kelowna.ca/sites/files/1/docs/homes-building/housing_zones_quick_reference_guide.pdf
RU7 zoning is a fairly new zoning bylaw that allows for 2-4 unit structures being built on one lot depending on lot size. These have been popular in the area I mentioned earlier close to downtown.
https://www.kelowna.ca/homes-building/property-development/infill-housing-and-ru7-zone
Below are some current RU6 and RU7 listings in that area.
https://matrix.interiorbc.ca/Matrix/Public/Portal.aspx?k=521038XRP9W&p=DE-25379936-109
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25379937-911
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25379939-785
Below are some homes that are for sale/sold that look like RU6/RU7 zoned homes. Unfortunately, you would need to pull the city file to ensure they are zoned correctly.
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25379949-838
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25380026-976
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25380216-869
As you can see, homes in the area have sold for $400k-$600k in the last couple of years. After either a duplex or a four-plex are built, developers are selling these units for $550k-$650k+ range. The area is quite nice as it's quiet, tree lined streets with no parking restrictions usually. Hopefully this is useful information, might be worth cruising around the area on Google Street View to get an idea.
Originally posted by @Jason Liang:This is all top notch information. Exactly what i was looking for. Thank you.Hi Nicholas,
Many homes close to the downtown area are older and run down, but are on good sized lots. These homes are becoming quickly desirable as the city core can only move in one way over the next few decades, East.
Many of these older ranchers are sitting on RU6 or RU7 zoning. RU6 allows for 2 residences, either single detached, semi detached, duplex, carriage house or suite in residence to a max of 2.5 storeys.
https://www.kelowna.ca/sites/files/1/docs/homes-building/housing_zones_quick_reference_guide.pdf
RU7 zoning is a fairly new zoning bylaw that allows for 2-4 unit structures being built on one lot depending on lot size. These have been popular in the area I mentioned earlier close to downtown.
https://www.kelowna.ca/homes-building/property-development/infill-housing-and-ru7-zone
Below are some current RU6 and RU7 listings in that area.
https://matrix.interiorbc.ca/Matrix/Public/Portal.aspx?k=521038XRP9W&p=DE-25379936-109
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25379937-911
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25379939-785
Below are some homes that are for sale/sold that look like RU6/RU7 zoned homes. Unfortunately, you would need to pull the city file to ensure they are zoned correctly.
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25379949-838
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25380026-976
https://matrix.interiorbc.ca/DE.asp?k=521038XRP9W&p=DE-25380216-869
As you can see, homes in the area have sold for $400k-$600k in the last couple of years. After either a duplex or a four-plex are built, developers are selling these units for $550k-$650k+ range. The area is quite nice as it's quiet, tree lined streets with no parking restrictions usually. Hopefully this is useful information, might be worth cruising around the area on Google Street View to get an idea.
