AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside. An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units. Many suites have kitchen and bathroom upgrades as well.The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys. There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value. (id:44056)

Property Details

Full Address:
117 Vermillion Avenue, Princeton, British Columbia
Price:
$ 1,049,000
MLS Number:
10400499
List Date:
September 10th, 2026
Lot Size:
0.25 ac
Year Built:
1929

Interior Features

Appliances:
Oven - Electric, Oven, Hood Fan, Washer & Dryer
Flooring:
Mixed Flooring
Heating:
Baseboard heaters, Electric
Basement:
Crawl space

Building Features

Storeys:
2
Sewer:
Municipal sewage system
Water:
Municipal water
Roof:
Other, Unknown
Exterior:
Other
Garage:
Rear, Street
Ownership Type:
Freehold

Floors

Finished Area:
8000 sq.ft.

Land

Lot Size:
0.25 ac
Lot Features:
Two Balconies

Neighbourhood Features

Amenities Nearby:
Pets Allowed With Restrictions

Ratings

Commercial Info

Neighbourhood Details

Location

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Faizal Tejani Luxmore Realty
778-999-9454
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Listing Agent(s)

Lead Agent: Faizal Tejani
Office: Luxmore Realty
Originating Board: Association of Interior REALTORS®

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