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Penticton

575 ELLIS STREET – LAND + APARTMENT BUILD OUT

$2,600,000

About This Location

CONTINGENT. Opportunity to own a brand new 8 unit purpose built apartment building in the heart of downtown Penticton. Absolute turnkey buy. An experienced developer, the Seller has the expertise to take this project from the ground up and deliver a quality fully finished building ready to rent. Pricing will include all necessary development cost charges, permits, servicing, land, building costs and contingencies. This property can be sold individually or in conjunction with the neighboring property 583 Ellis Street, to allow a total of 16 rental units.  Excellent return once the project is complete and rented with an estimated 5.6% Cap Rate. This sale is contingent on a qualified Buyer entering into a formal cost plus contract with the Seller for the build out. This is in a great location close to schools, shopping and Okanagan Lake. Excellent opportunity to benefit from the strong rental market in Penticton. Price is PLUS GST.

Details

Beds
Baths
SQF Living
0.089 Acres Lot
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575 ELLIS STREET – LAND + APARTMENT BUILD OUT