MLS: 10386430
909 Fairview Road
$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:6770)
Multi Family < 1 Acre NewListed by John Green
Chamberlain Property Group Inc.
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Overview
- Price $3,250,000
- MLS # 10386430
- Age 1960
- Cooling Wall Unit
- Water Municipal water
- Sewer Municipal sewage system
- Listing Agent John Green
- Listing Office Chamberlain Property Group Inc.
