$1,049,000  For Sale
MLS® No:
583 ELLIS STREET, PENTICTON, British Columbia, Canada, V2A4M4
  • 189020 photo


Heat Source:
Natural gas
Heat Type:
Forced air
Fire Place:

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:5856)
Listing Contracted With: RE/MAX PENTICTON REALTY - DT (Independently Owned & Operated)
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Leon SunAssociateDirect: 778-999-6389Bus: 604-684-6155