909 Fairview Road

Multi-family for sale in Penticton — $3,250,000

Key facts

• Type: Multi-family
• Price: $3,250,000
• Lot: 14,810 sq ft
• Year built: 1960
• City: Penticton
• MLS® number: 10386430
• Agent: Century 21
• Brokerage: Century 21 Canada

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:41440)

See the original listing at Century 21

Homes for sale in Penticton · Multi-family for sale in Penticton