909 Fairview Road
Penticton, British Columbia
MLS® 10386430
$3,250,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- 10386430
- Bedrooms
- —
- Bathrooms
- —
- Year built
- 1960
1 / 6Listing 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
Property summary
- MLS® number
- 10386430
- Property type
- Multi-family
- Building type
- Multi-Family
- Title
- Freehold
- Land size
- 0.34 acres
- Built in
- 1960
- Annual property taxes
- $14,703.44
- Days on market
- 133 days
Features & details
- Cooling
- Wall unit
What would this home cost you?
Based on the $3,250,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Chamberlain Property Group Inc., Penticton.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.