$2,995,000
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:64133)
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Property Details
MLS® Number 10386430 Property Type Multi-family Neigbourhood Main North -
Building
Constructed Date 1960 Cooling Type Wall Unit Fire Protection Security Type Multi-family Utility Water Municipal Water -
Land
Acreage No Sewer Municipal Sewage System Size Irregular 0.34 Size Total 0.34 Ac|under 1 Acre Size Total Text 0.34 Ac|under 1 Acre
Mark Gidden
Realtor/Founder
Lloyd Taverner
Realtor/Senior Partner
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October 09 2026 09:19:53
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