909 Fairview Road, Penticton, British Columbia

About 909 Fairview Road

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. (id:6289)

More Info on this Main North Multi-Family MLS® listing

909 Fairview Road is a multi-family listing for sale in Penticton. The MLS® number is 10403482. It was built in 1960. It's currently listed for $2,995,000. For more details on MLS® 10403482, including price history, disclosures, or to schedule a private showing, fill out the form on this page. This multi-family listing in Main North is available now!

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