550 Patterson Avenue - Main photo, Kelowna, British Columbia

550 Patterson Avenue - Photo 2 of 43, Kelowna, British Columbia

550 Patterson Avenue - Photo 3 of 43, Kelowna, British Columbia

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550 Patterson Avenue - Photo 1 of 43, Kelowna, British Columbia

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$1,349,000

550 Patterson Avenue — Kelowna, British Columbia

V1Y5C6

5Beds

4Baths

2,344Sq Ft

6Parking

1947Built

About This Property

ATTENTION DEVELOPERS & INVESTORS! Prime opportunity in the heart of Kelowna! This well-maintained single-family home with a carriage house offers exceptional potential when combined with the adjoining properties at 530 & 540 Patterson (MLS# 10313190 & 10313085), totaling 0.46 acres of development-ready land. Currently zoned MF1 within the C-NHD, this site sits on the transit corridor—making it ideal for MF3 zoning and a potential six-storey apartment development. The City of Kelowna has recently installed new sewer lines along the alley, further enhancing development readiness. In the meantime, both the main home and carriage home offer strong rental income potential, making this an excellent holding property. Alternatively, the lot could support a townhome development, following the successful projects nearby. Don’t miss this rare opportunity to secure a key parcel in one of Kelowna’s most promising urban growth areas! (id:63357)

Property Details

Property Type: Detached
Bedrooms: 5
Bathrooms: 4
Half Baths: 1
Living Area: 2,344 sqft
Year Built: 1947
Stories: 1.5
Status: Active

Location & Neighborhood

What's nearby 550 Patterson Avenue

Nearby Schools

Raymer Elementary School
elementary
0.5 km
University of British Columbia Okanagan Clinical Academic Campus
post_secondary
0.5 km
Kelowna Secondary School
elementary
0.9 km

Parks & Recreation

Osprey Park
park
0.2 km
Kinsmen Park
park
0.4 km
Cameron Park
park
0.5 km

Transit Access

Pandosy at Patterson
Bus Stop
52m
Pandosy at Morrison
Bus Stop
0.1 km
Pandosy at Osprey
Bus Stop
0.3 km
Pandosy at Raymer
Bus Stop
0.3 km
Kelowna Hospital Exchange
Bus Stop
0.5 km

Local Amenities

Dining

Original Joe's0.4 km
Hector's Casa0.4 km

Coffee & Cafes

Blenz Coffee0.4 km
The Marmalade Cat Cafe0.4 km

Pharmacy

Remedy'sRx0.6 km

Grocery

Lakview Market0.6 km

POI data updated 1/30/2026

Last updated: Feb 27, 2026

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$1,349,000