Zoned RD2 (Duplex Housing), the Official Community Plan designates this 0.21-acre lot for Multi-Family, encouraging apartments, cluster housing, fourplexes, duplexes with suites, etc. Lot meets regulations of RM2 zone allowing for these uses and benefits from back-alley access. 6 or more units could be developed depending on configuration & City approvals! Lot could also be subdivided. A HazMat report is in place showing very favourable results, providing considerable savings at demolition. Lot is within blocks of Okanagan Lake & the downtown core. This 1912-character home would make an excellent family home or holding property too. The 3-bed, 2-bath home has been updated with new insulation in bedrooms & crawl space, new carpets, many windows, a ductless split heating/cooling system & more. Exterior repairs recently made in preparation for painting. Note: City's mapping system incorrectly shows diagonal line across NW corner of property - City is in process of correcting.