Address
575 ELLIS STREET Penticton, BC
Price
$ 1,049,000
Property Attributes
  • ID#189021
  • 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. Seller has City of Penticton development permit approval with pending building permit approval 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 583 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 14884069

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 4
3
Walkscore
AVG 79
79
Data Provided by Walkscore ® not using MLS data