$3,250,000

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:64343)

Property Details

MLS® Number	10386430
Property Type	Multi-family
Neigbourhood	Main North

Building

Constructed Date	1960
Cooling Type	Wall Unit
Fire Protection	Security
Type	Multi-family
Utility Water	Municipal Water

Land

Acreage	No
Sewer	Municipal Sewage System
Size Irregular	0.34
Size Total	0.34 Ac|under 1 Acre
Size Total Text	0.34 Ac|under 1 Acre

https://www.realtor.ca/real-estate/29712378/909-fairview-road-penticton-main-north