909 Fairview Road Penticton, British Columbia V2A 5Z1
$3,250,000
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:66550)
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 |
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May 06 2026 11:29:13
Association of Interior REALTORS®
Chamberlain Property Group Inc.