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:4069)
Address
909 Fairview Road
List Price
$3,250,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Transaction Type
Sale
Area
British Columbia
Sub-Area
Penticton
Lot Size
0.34 Sq. Ft.
Year Built
1960
MLS® Number
10386430
Listing Brokerage
Chamberlain Property Group Inc.
Postal Code
V2A5Z1
Ownership
Freehold
Cooling Features
Wall unit
Water Source
Municipal water
Sewer
Municipal sewage system
