328 NANAIMO Avenue W
Penticton, British Columbia, V2A1N7
For Sale | $2,589,000
Key facts
- Property type: Multi-family
- Transaction: For Sale
- Price: $2,589,000
- Lot size: 0.23
- Year built: 1968
- Listing key: 29772350
Listing overview
Welcome to a rare investment opportunity in the heart of beautiful downtown Penticton. This well-maintained 11-unit apartment building sits on three separate titles and offers a strong, diversified unit mix: 7 one-bedroom suites, 3 two-bedroom suites, and 1 studio apartment. Currently generating a 5.5% cap rate, this property provides immediate, stable returns with future upside potential. A major highlight of this offering is the 2.7% assumable CMHC-insured mortgage (OAC) — an exceptional financing opportunity in today’s market that significantly enhances cash flow and overall return on investment. Each unit features its own private deck or patio—perfect for enjoying the renowned Okanagan weather. The building has seen numerous updates over the years, including a new roof in 2019. All suites are equipped with newer hot water tanks, air conditioning, and individual electric meters, with...
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