575 Wade Av E - Apartments FOR SALE


Penticton, BC V2A 1T2
$6,800,000 CAD
250-870-3025
575 Wade Av E, Penticton, BC for Sale
$6,800,000 CAD
Apartments - FOR SALE
1/2
null | Request Cap Rate

575 Wade Av E
Penticton, BC V2A 1T2


HIGHLIGHTS

  • Purpose rental building
  • Elevator accessible
  • Reserved tenant parking

OVERVIEW

Lexington Place is in excellent condition and has recently undergone over $500k in renovations. It is a 23,408 SF 3-storey apartment building with 6 units per floor for a total of 18 rental units built over a part grade level basement and more than ample parking area. The building was vacated for the major renovation and all units have recently been leased up at market rents. The suites are larger than typical rental units in the market which has resulted in the building achieving top of the market 2024 rents throughout. Common areas include but are not limited to, entrance with mail room, storage room, kitchenette, workshop, 12 tenant storage lockers and an electrical room.

FOR SALE DETAILS

PRICE

$6,800,000 CAD

PRICE/SF

$290 CAD /SF

# OF UNITS

18

PRICE/UNIT

$377,778

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1996

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,426 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Jack ShabbitsColliersMore Info
250-870-3025

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Jack ShabbitsColliersMore Info
250-870-3025

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.