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


LOADING

575 Ellis Street, Penticton, British Columbia V2A 4M4

Forced Air

$849,900

Hard to find multi-family development site in great location close to downtown core in Penticton. RM5 Zoning in place. 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 including: building plans, energy model and feasibility studies. Excellent return once the project is complete with estimated 5.6% Cap Rate. Developers can complete the project themselves or buy as a turnkey operation. Seller is willing to work with a qualified Buyer on build out of this project. See MLS 190588 for a turnkey, fully built and ready to rent new apartment building. This property can be sold individually or in conjunction with the neighboring 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. Excellent location & opportunity! Price PLUS GST. Dup RES list#190580 (id:44708)

Property Details

MLS® Number 190584
Property Type Industrial
Neigbourhood Main North
Amenities Near By Recreation, Shopping, Schools, Public Transit
Features Central Location, Visual Exposure, Flat Site

Building

Constructed Date 1945
Heating Type Forced Air
Type Other
Utility Water Municipal Water

Land

Acreage No
Land Amenities Recreation, Shopping, Schools, Public Transit
Sewer Municipal Sewage System
Size Irregular 0.089
Size Total 0.089 Ac
Size Total Text 0.089 Ac

Utilities

Sewer Available

https://www.realtor.ca/real-estate/23466274/575-ellis-street-penticton-main-north

Peter Byrnes
Personal Real Estate Corporation


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

(778) 476-7778
(778) 476-7776

Kirk Chamberlain
Personal Real Estate Corporation

(250) 486-8887

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

(778) 476-7778
(778) 476-7776

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