Josh Miko - 250-215-7700

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Industrial in Penticton

$849,900.00
575 ELLIS Street - MLS® #: 190584
  • (164)
  • 246
  • 130
  • 0 Bedrooms
  • 0 Bathrooms
  • - Sq Ft
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Josh Miko
250-215-7700

Property Type

Industrial

Description

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:6769)

Property Details

Subarea
Main North

Lot
0.089

Year Built
1945

Sewer
Municipal sewage system

Listing Agent

Peter Byrnes

Brokerage

Re/max Penticton Realty - Dt
(778) 476-7778

Disclaimer:

The property information on this website is derived from the Canadian Real Estate Association''s Data Distribution Facility (DDF®). DDF® references real estate listings held by various brokerage firms and franchisees. The accuracy of information is not guaranteed and should be independently verified. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

Listing data last updated date: 2022-01-05 20:38:30




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