189020

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

Features

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

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)
All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind.
Want More Information? Contact Me Now!
 
 
 
 
 
Leon SunAssociateDirect: 778-999-6389Bus: 604-684-6155
Share