Updates mentioned by the listing
- FlooringUpdated (year not given)“The property offers 18 generously sized one-bedroom suites, eight of which have been renovated with updated kitchens, bathrooms, flooring and paint.”
- Furnace / HVACUpdated (year not given)“Recent capital improvements include a new boiler system and pumps, a new hot water tank, additional laundry equipment, and a refurbished lobby with secure mailb”
- Hot waterUpdated (year not given)“Recent capital improvements include a new boiler system and pumps, a new hot water tank, additional laundry equipment, and a refurbished lobby with secure mailb”
From the listing description. Ask Sean to confirm ages and receipts before you write an offer.
About this home
Well-maintained two-storey apartment building in a prime walkable location, steps from downtown Penticton and all essential amenities. The property offers 18 generously sized one-bedroom suites, eight of which have been renovated with updated kitchens, bathrooms, flooring and paint. Recent capital improvements include a new boiler system and pumps, a new hot water tank, additional laundry equipment, and a refurbished lobby with secure mailboxes. With no balconies or elevator, the building is low-maintenance and efficient to operate. Ten of the 18 suites are renting $365 to $790 per month below market, and suites re-lease quickly on turnover. Each vacancy is an opportunity to mark rents to market. The property delivers a 5.4% cap rate on current rents, with a projected 7.6% at full market rents. That’s over $64,000 in additional annual NOI for a buyer to capture.
Highlights & things to check
Highlights
- Per the listing, the building has 18 one-bedroom suites, and eight have been renovated with updated kitchens, bathrooms, flooring and paint.
- Per the listing, recent upgrades include a new boiler system and pumps, a new hot water tank, additional laundry equipment and a refurbished lobby.
- The property has municipal water and a municipal sewage system, and the lot is 0.34 acres.
- Nearby, the town centre is 320 m away, the Penticton Recreation & Wellness Centre is 520 m, and Okanagan Lake is 1.6 km.
Things to check
- Ask for the current rent roll and copies of the leases to confirm the rents stated in the listing.
- Ask for the age and condition of the roof and other building systems, and the install dates for the boiler and hot water tank.
- Confirm with the City of Penticton that the zoning allows the 18 suites and the current use of the building.
- The building was built in 1960, so ask for its maintenance and repair history.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Living at 909 Fairview Road
Neighbourhood scores
8.9 / 10Walk & bike score: 7.8 / 10, from how close the nearest school, park or trail, rec centre and town centre are.
Family Home Match
Everyone in the family marks what matters to them (Skip, Nice or Must), and every home gets a match score. Kids too.
Set up my family’s matchYour answers stay on your phone or computer.
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
- $2,995,000
- MLS® number
- 10403482
- Property type
- Commercial · Multi-Family · Multi-family
- Ownership
- Freehold
- Lot size
- 0.34 acres · 0.34
- Year built
- 1960
- Annual taxes
- $17,629
- Community
- Main North, Penticton
Features
- Cooling
- Wall unit
- Water
- Municipal water
- Sewer
- Municipal sewage system
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Listing information is provided by Chamberlain Property Group Inc. through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-10-16.