575 ELLIS Street, Penticton, BC
$ 2,600,000
Property Attributes
  • ID#190588
  • TypeCommercial
  • CityPenticton
  • NeighbourhoodMain North
  • Postal CodeV2A 4M4
  • Style
  • Price$ 2,600,000
  • Bedrooms0
  • Bathrooms0
  • Half Bathrooms0
Listing Provided Courtesy Of:
Peter Byrnes with Re/max Penticton Realty - Dt
Data Source:
Property Description

CONTINGENT. Opportunity to own a brand new 8 unit purpose built apartment building in the heart of downtown Penticton. Absolute turnkey buy. An experienced developer, the Seller has the expertise to take this project from the ground up and deliver a quality fully finished building ready to rent. Pricing will include all necessary development cost charges, permits, servicing, land, building costs and contingencies. This property can be sold individually or in conjunction with the neighboring property 583 Ellis Street, to allow a total of 16 rental units. See MLS 190589. Excellent return once the project is complete and rented with an estimated 5.6% Cap Rate. This sale is contingent on a qualified Buyer entering into a formal cost plus contract with the Seller for the build out. This is in a great location close to schools, shopping and Okanagan Lake. Excellent opportunity to benefit from the strong rental market in Penticton. Price is PLUS GST. (id:27)

Exterior Features

Jumpid 15514633
Mls 190588


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

Property vs Commercial Average in V2A 4M4

AVG $1.72M
AVG 296
Year Built
AVG 1945
AVG 81
Data Provided by Walkscore ® not using MLS data