Well-maintained two-storey apartment building in a prime walkable location, steps from downtown Penticton and all essential amenities. The property offers 18 generously sized one-bedroom suites, eight of which have been renovated with updated kitchens, bathrooms, flooring and paint. Recent capital improvements include a new boiler system and pumps, a new hot water tank, additional laundry equipment, and a refurbished lobby with secure mailboxes. With no balconies or elevator, the building is low-maintenance and efficient to operate. Ten of the 18 suites are renting $365 to $790 per month below market, and suites re-lease quickly on turnover. Each vacancy is an opportunity to mark rents to market. The property delivers a 5.4% cap rate on current rents, with a projected 7.6% at full market rents. That’s over $64,000 in additional annual NOI for a buyer to capture. (id:44056)

Property Details

Full Address:
909 Fairview Road, Penticton, British Columbia
Price:
$ 2,995,000
MLS Number:
10403482
List Date:
October 14th, 2026
Lot Size:
0.34 ac
Year Built:
1960
Taxes:
$ 17,629

Interior Features

Air Conditioning:
Wall unit

Building Features

Sewer:
Municipal sewage system
Water:
Municipal water
Security:
Security
Ownership Type:
Freehold
Taxes:
$ 17,629

Floors

Land

Lot Size:
0.34 ac

Neighbourhood Features

Ratings

Commercial Info

Neighbourhood Details

Location

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Listing Agent(s)

Lead Agent: John Green
Office: Chamberlain Property Group Inc.
Originating Board: Association of Interior REALTORS®
Co-Listing: Natasha Badger
Chamberlain Property Group Inc.

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