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$ 3,250,000
Est. payment | /mo
0.34 Acres Lot
$ 3,250,000
Est. payment | /mo
0.34 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Main North
MLS® Listing ID 10386430
Year Built 1960
Lot Size 0.340 Acres
Acres 0.34
Property Sub-Type Freehold
Property Description
Well-maintained two-storey apartment building in a prime walkable location — steps from downtown Penticton and all essential amenities. The property comprises 18 one-bedroom units, seven of these have been fully remodelled with updated kitchens, bathrooms, flooring, and paint. Recent capital improvements include a new boiler and pumps, hot water tank, additional laundry appliances, and a refurbished lobby with secure mailboxes. With no balconies or elevator, the building is exceptionally low-maintenance and operationally efficient. More than half the units remain substantially below market rent, and the property re-leases quickly with minimal vacancy exposure — each turnover a mark-to-market opportunity. Strong occupancy underpins stable cash flow, with a projected capitalization rate of 7.31% at full market rents (id:24570)
Location
Province BC
Rooms
Kitchen 0.0
Interior
Cooling Wall unit
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Chamberlain Property Group Inc.
Nearby Locations
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