$159,000 UNDER assessed value! **Attention Investors and Builders:** Rare opportunity to acquire a highly sought-after property with MF1 zoning, offering a prime .15-acre flat lot with laneway access. Current land use could allow for the construction of a fourplex. The existing home is configured as two LEGAL separate dwellings. This property meets the city of Kelowna's short term rental regulations. Buy and hold while making great rent, demolish and build a multiplex property, or move in and make it your ideal space to live... The possibilities are vast. The ground floor features a spacious 2-bedroom + den, 2-bathroom unit, while the upper level offers a 2-bedroom, 1-bathroom layout. Additional features include a 2-car garage in the front, a large detached double garage at the rear, covered patios, private lawn, and ample parking space for boats, RVs or trailers. Located in the heart of downtown Kelowna, this property provides immediate access to all the amenities and attractions the Okanagan has to offer. Contact today to arrange your viewing.