909 Fairview Road Penticton, BC V2A5Z1

0.34 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Subdivision Main North

MLS® Listing ID 10386430

Year Built 1960

Lot Size 0.340 Acres

Acres 0.34

Property Sub-Type Freehold

Property Description

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:24570)

Location

Province BC

Rooms

Kitchen 0.0

Interior

Cooling Wall unit

Exterior

Parking Features No

View Y/N No

Attached Garage No

Garage No

Private Pool No

Building

Sewer Municipal sewage system

Others

Ownership Freehold

Listed by Chamberlain Property Group Inc.

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