$3,250,000

909 Fairview Road, Penticton, British Columbia, V2A 5Z1

MLS® # 10386430

Penticton BC, V2A 5Z1

MLS® # 10386430

Property Information:

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:27)

Building Features:

Style: Multiplex
Building Type: Multi-Family
Air Conditioning: Yes
Fire Protection: Security
Cooling Type: Wall unit

Property Features:

OwnershipType: Freehold
Property Type: Multi-family
Built in: 1960
Irregular: Yes
Lot Size: 0.34 Acres
Sewer: Municipal sewage system

Courtesy of: Chamberlain Property Group Inc.

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Market Price Trends

Location of 909 Fairview Road, Penticton, British Columbia, V2A 5Z1

Lifestyle
Neighbourhood

Demographic Information of 909 Fairview Road, Penticton, British Columbia, V2A 5Z1

Life Stage

Later Years

Employment Type

Service Sector

Average Household Income

$89,551.01

Average Number of Children

1.49

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

21.56 %

High school certificate or equivalent

35.29 %

Apprenticeship trade certificate/diploma

9.92 %

College/non-university certificate

18.03 %

University certificate (below bachelor)

0.77 %

University Degree

14.43 %

Commuter

Travel To Work

By Car

75.5 %

By Public Transit

2.45 %

By Walking

16.48 %

By Bicycle

2.52 %

By Other Methods

3.05 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

65.7 %

Houses

34.3 %

Own Vs. Rent