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

$3,250,000

MLS® # 10386430

Investment For Sale In Penticton, British Columbia

$3,250,000

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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This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association.

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