Fully furnished 2,900 sq. ft. custom log home on a private 1.04-acre waterfront lot on beautiful Osprey Lake. Featuring 3 bedrooms, 2.5 bathrooms, a 1,000 sq. ft. wrap-around covered deck, private dock, and exceptional year-round comfort.
Foreign Buyer Ban does not apply to this property
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Escape to the peaceful lakeside community of Bankeir, nestled between Princeton and Summerland in the beautiful South Okanagan–Similkameen region. Surrounded by pristine forests, mountain scenery and a chain of crystal-clear lakes, this is a place where families have been creating lasting memories for generations.
Bankeir is home to four lakes, with Chain, Link and Osprey Lakes being the most popular, while secluded Secret Lake is off the main road. The three main lakes are regularly stocked with rainbow trout and feature a 10 hp (or electric motor) restriction, preserving the area's quiet atmosphere and making them ideal for fishing, paddling, swimming and leisurely boating.
Despite its peaceful setting, Bankeir is a welcoming year-round community with approximately 40 full-time families. School bus service is available to Princeton, making the area suitable for both permanent residents and those seeking a recreational retreat.
Lovingly designed and built by the same family over 40 years ago, this custom log home reflects exceptional craftsmanship and thoughtful planning throughout. While it has primarily served as a cherished family getaway, it was engineered for comfortable year-round living, with practical features that keep operating costs reasonable while standing up to both the hottest summers and coldest winters. Meticulously maintained since construction, the home is now ready for a new family to enjoy for generations to come.
Offering approximately 2,900 square feet over three levels, the home features three bedrooms, two-and-a-half bathrooms, and a full basement housing the mechanical systems along with extensive unfinished storage for recreational equipment and seasonal gear. Warm wood interiors, generous living spaces and classic log construction create a timeless mountain-lake atmosphere that is both inviting and functional.
One of the home's standout features is the impressive 1,000 sq. ft. wrap-around covered deck. Thoughtfully designed with four skylights that bring natural light into the covered seating areas, it provides the perfect setting for morning coffee, family gatherings, or relaxing evenings overlooking the lake regardless of the weather.
The beautifully treed 1.04-acre property offers excellent privacy, with generous separation from neighbouring homes and ample setback from the road. The home's elevated position was carefully selected to capture filtered sunlight through the trees while taking full advantage of panoramic views across Osprey Lake to the surrounding mountains. Located on the eastern end of the lake, the property enjoys warm afternoon and evening sunshine—ideal for making the most of long summer days.
The private dock has been intelligently engineered to tilt out of the water during the winter months when the lake freezes, ensuring years of dependable service. A detached woodshed provides convenient firewood storage while incorporating secure, lockable space for larger recreational equipment such as snowmobiles and other outdoor toys.
Properties of this quality rarely become available on Osprey Lake. Widely regarded as one of the finest homes on the lake, this exceptional property is being offered fully furnished, allowing you to begin enjoying the lake lifestyle from the moment you arrive.
4221 Princeton-Summerland Road - Bankeir, BC
Take Princeton-Summerland Road for about 49 km, the road is paved a little way out of Summerland then turns to gravel and is paved just before you arrive at Osprey Lake.
Take Tapton Ave (Highway 5A) about 800 m to Old Hedley Road, turn right, then about 350 m continue onto Princeton Summerland Road for about 44 km. The road is paved the entire way.
Bankeir is a quiet rural community in the northeastern Similkameen Valley within the Regional District of Okanagan-Similkameen (RDOS), approximately 40 km northeast of Princeton and about 70 km northwest of Penticton. Nestled among the Chain Lake, Link Lake and Osprey Lake recreation corridor, the area offers an exceptional blend of wilderness, lakes, forests and rolling grasslands. Originally established as a stop along the historic Kettle Valley Railway, Bankeir today is known for its peaceful rural lifestyle, recreational opportunities and abundance of wildlife. Despite its secluded feel, it remains accessible year-round via Highway 40, making it a popular destination for recreational property owners, outdoor enthusiasts and those seeking a quieter way of life.
The diverse habitats surrounding Bankeir support an impressive variety of wildlife. Common sightings include mule deer, white-tailed deer, moose, elk, black bears, coyotes and occasionally cougars. The lakes attract loons, osprey, bald eagles, great blue herons and numerous migratory waterfowl. Smaller mammals such as beavers, muskrats, marmots and snowshoe hares are frequently encountered, making the area especially appealing to photographers, birdwatchers and nature enthusiasts.
The Bankeir area sits within a transition zone between the dry Interior grasslands and the higher elevation Interior Douglas-fir forests, creating remarkable ecological diversity. Open meadows are interspersed with mature stands of Douglas-fir, lodgepole pine, trembling aspen and white spruce. South-facing slopes support native bunchgrasses and shrubs, while wetter areas surrounding the lakes feature willow, alder, cottonwood and diverse wetland vegetation.
Wildflowers bloom throughout late spring and summer, while the extensive forests provide habitat for numerous bird species, songbirds, raptors and large mammals. The combination of forest, grassland and wetland ecosystems creates a scenic landscape that changes dramatically with the seasons.
Outdoor recreation is the defining feature of the Bankeir area. Chain Lake, Link Lake and nearby Osprey Lake are renowned for excellent rainbow trout fishing, canoeing, kayaking and paddleboarding. Numerous public boat launches provide easy lake access.
The surrounding hills and Crown land offer hundreds of kilometres of forest service roads and trails ideal for ATVing, side-by-side adventures, dirt biking, horseback riding and mountain biking. During hunting season, the area is popular for mule deer, white-tailed deer, black bear, moose and upland bird hunting.
Winter transforms the area into a playground for snowmobiling, cross-country skiing and snowshoeing, with reliable snowfall and extensive backcountry terrain. The nearby Kettle Valley Rail Trail also provides opportunities for hiking, cycling and horseback riding while showcasing spectacular scenery throughout the Similkameen region. The larger communities of Princeton and Penticton are within comfortable driving distance for shopping, dining and additional recreational amenities.
Long before European settlement, the area formed part of the traditional territory of the Syilx (Okanagan) people, who travelled throughout the Similkameen region for hunting, fishing and trade. Indigenous travel routes later became important transportation corridors for explorers, ranchers and miners moving through southern British Columbia.
Modern Bankeir developed alongside the Kettle Valley Railway during the early 20th century. Originally associated with the nearby Jellicoe railway station, the community gained its own post office in 1934, serving ranchers, railway workers and local residents until its closure in 1963. Although the railway has long since ceased operation, its legacy remains visible in the surrounding landscape and recreational trail network. Today, Bankeir retains its rural heritage while attracting property owners looking to enjoy the area's lakes, forests and recreational lifestyle.
49°42'52.46"N and 120°11'58.12"W
Water is supplied by 2 wells (1 drilled and a ring well by the lakeshore), septic and power.
2,900 sq. ft. 3-level log home, wood shed and storage, dock.
$3,606.75 (2026)
SH2 (Small Holdings 2)
Lot 2 District Lot 2084 Kamloops Division Yale District Plan KAP32154
PID 001-935-399
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Our property descriptions and geographical information are taken from the BC Assessment Authority, Land Titles Office, government maps and other sources. While LandQuest® does not guarantee the information, we believe it to be accurate, but should not be relied upon without verification. This communication is not intended to cause or induce breach of an existing agency agreement.
Peachland
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