$3,250,000

909 Fairview Road, Penticton

Main North, Penticton, BC V2A5Z1

Commercial

Listed by Chamberlain Property Group Inc. · John Green

About this property

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:67417)

Property details

Price

$3,250,000

MLS® number

10386430

Property type

Commercial · Multi-Family · Multi-family

Ownership

Freehold

Lot size

0.34 acres · 0.34

Year built

1960

Annual taxes

$14,703

Community

Main North, Penticton

Features

Cooling

Wall unit

Water

Municipal water

Sewer

Municipal sewage system

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