Address
583 ELLIS STREET Penticton, BC
Price
$ 1,049,000
Property Attributes
  • ID#189020
  • TypeCommercial
  • CityPenticton
  • Postal CodeV2A 4M4
  • Style
  • Price$ 1,049,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Listing Provided Courtesy Of:
Peter Byrnes,* with Re/Max Penticton Realty - Dt
Data Source:
RLP - CREA EN
Property Description

Multi-family development site in an excellent location close to the downtown core in Penticton. RM5 Zoning pending. Seller has a pending City of Penticton development permit & building permit application for an 8 unit purpose built rental building. Most due diligence has been completed on the project which includes: building plans, energy model and, feasibility studies. Excellent return once the project is complete with an estimated 5.6% Cap Rate. The Seller is willing to work with a qualified Buyer on the build out of this project. This property can be sold individually or in conjunction with the neighbouring property 575 Ellis Street, to allow a total of 16 rental units. Currently, there is an older house on the property that is utilized as a vacation rental. This is in an excellent location close to schools, shopping and Okanagan Lake. Excellent opportunity to benefit from the strong rental market in Penticton. (id:27)

Exterior Features

Jumpid 14884070

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Postal Code Average in V2A 4M4

Price
AVG $1.05M
$1.05M
Visits
AVG 5
5
Walkscore
AVG 79
79
Data Provided by Walkscore ® not using MLS data