+1 (778) 215-0445 scarlettbarber@remax.net


LOADING

575 Ellis Street Penticton, British Columbia V2A 4M4

Forced Air

$949,900

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:44708)

Business

Business Type Other
Business Sub Type See remarks

Property Details

MLS® Number 189021
Property Type Business
Amenities Near By Public Transit, Shopping, Recreation, Schools
Features Central Location, Visual Exposure, Flat Site
View Type Mountain View

Building

Construction Material Wood Frame
Heating Fuel Natural Gas
Heating Type Forced Air
Utility Power Single Phase
Utility Water Municipal Water

Land

Acreage No
Land Amenities Public Transit, Shopping, Recreation, Schools
Sewer Municipal Sewage System

https://www.realtor.ca/real-estate/23100080/575-ellis-street-penticton

Peter Byrnes,*
Personal Real Estate Corporation

(250) 809-9967

RE/MAX Penticton Realty - Dt
#104 - 399 Main Street
Penticton, British Columbia V2A 5B7

(778) 476-7778
(250) 492-3005

Kirk Chamberlain,*
Personal Real Estate Corporation

(778) 476-7778
(778) 476-7776
www.chamberlainpropertygroup.ca

RE/MAX Penticton Realty - Dt
#104 - 399 Main Street
Penticton, British Columbia V2A 5B7

(778) 476-7778
(250) 492-3005

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