Positioned along the Gordon Drive transit corridor, this .137-acre property offers exceptional potential in one of Kelowna's most dynamic growth areas. The property currently features a charming 3-bedroom, 1-bath home (approx. 1,165 sq ft) that provides immediate holding income, with long-term tenants who would love to stay. The home offers warm, old-world charm with a welcoming and functional layout. Inside you'll find a cozy living room perfect for relaxing or entertaining, and a comfortable kitchen with a true ""heart-of-the-home"" feel, ideal for morning coffee while enjoying views of the leafy surroundings and nearby Mission Creek. Original details, warm finishes, and an easy-flow floor plan add character and make this a delightful place to live or hold. Zoned UC2 (Urban Centre 2) and identified in Kelowna's Official Community Plan (Map 4.3) for up to 6 storeys, the property aligns with the city's vision for higher-density, mixed-use urban living. Located along a key transit route and close to the Mission Creek recreational corridor, this site offers excellent redevelopment potential and the possibility of future land assembly with neighbouring parcels. An outstanding opportunity for developers, investors, or forward-thinking builders seeking both immediate income and long-term value.