About this home
Excellent investment opportunity in a central Penticton location. This 7-unit multifamily property offers established rental income with significant long-term upside. The suite mix includes one 2-bedroom, five 1-bedroom units and one studio. Five units are currently tenanted with two vacant, providing a purchaser the opportunity to establish new tenancies and rents. Tenants pay their own electricity, while heat is supplied by a central boiler system and included in rent. Additional features include 400-amp electrical service and coin laundry. The property is C5 zoned and consists of two separate titles with lane access. The C5-zoned vacant lot directly behind the building at 313 Van Horne Street is also available separately, creating an interesting opportunity for investors considering the longer-term potential of the site. Buyers to verify development possibilities with the City of Penticton.
Highlights & things to check
Highlights
- Seven-unit building with one 2-bedroom, five 1-bedroom and one studio suite, per the listing.
- Five units are tenanted and two are vacant, so a buyer can set new tenancies and rents, per the listing.
- Heat from a central boiler is included in rent, and tenants pay their own electricity, per the listing.
- Zoned C5 on two separate titles with lane access. A vacant C5 lot at 313 Van Horne Street is also available separately.
- Lake Okanagan is 680 m away, the Recreation & Wellness Centre is 600 m away, and Town Centre is 840 m.
Things to check
- The details list radiant heat, but the description mentions a central boiler. Ask which heating system serves the building.
- The building dates from 1940. Ask about the age and condition of the roof, boiler, plumbing and wiring.
- The listing shows street parking only. Ask how parking is handled for current and future tenants.
- Buyers are asked to verify development possibilities with the City of Penticton. Ask the City what C5 zoning allows on this site.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Living at 156 Nanaimo Avenue E
Neighbourhood scores
8.8 / 10Walk & bike score: 7.2 / 10, from how close the nearest school, park or trail, rec centre and town centre are.
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Scores and distances are Sean Phillips’s own measure of straight-line distance from this home to public B.C. map data (schools, parks and trails, lakes, town centres, rec centres, hospitals). They are not part of the MLS® listing; please check anything that matters to you.
Distances from the front door
Straight-line distances. Driving distances are longer.
Property details
- Price
- $1,295,000
- MLS® number
- 10402298
- Property type
- Commercial · Multi-Family · Multi-family
- Ownership
- Freehold
- Living area
- 5,196 sq ft
- Lot size
- 0.18 acres · 0.18
- Year built
- 1940
- Storeys
- 3
- Annual taxes
- $7,429
- Community
- Main North, Penticton
Features
- Heating
- Radiant heat, See remarks
- Parking
- Street
- Lot
- Level lot, Corner Site
- Water
- Municipal water
- Sewer
- Municipal sewage system
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Listing information is provided by eXp Realty through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-10-15.