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583 Ellis Street, Penticton, British Columbia V2A 4M4

2 Bedroom 1 Bathroom 888 sqft
Forced Air

$849,900

Hard to find multi-family development site in great location close to downtown core in Penticton. RM5 Zoning in place. Seller has City of Penticton development permit approval with pending building permit approval for an 8 unit purpose built rental building. Most due diligence has been completed on the project including: building plans, energy model and feasibility studies. Excellent return once the project is complete with estimated 5.6% Cap Rate. Developers can complete the project themselves or buy as a turnkey operation. Seller is willing to work with a qualified Buyer on build out of this project. See MLS 190589 for a turnkey, fully built and ready to rent new apartment building. This property can be sold individually or in conjunction with the neighboring property 575 Ellis Street to allow a total of 16 rental units. Currently, there is an older house on the property that is utilized as a vacation rental. Excellent location and opportunity! Price PLUS GST. Dup ICI list190587 (id:38892)

Property Details

MLS® Number 190586
Property Type Single Family
Neigbourhood Main North

Building

Bathroom Total 1
Bedrooms Total 2
Basement Development Unknown
Basement Type Cellar (unknown)
Exterior Finish Stucco
Foundation Type Concrete
Heating Fuel Natural Gas
Heating Type Forced Air
Roof Material Asphalt Shingle
Roof Style Conventional
Stories Total 1
Size Interior 888 Sqft
Type House
Utility Water Municipal Water

Land

Acreage No
Sewer Municipal Sewage System
Size Irregular 0.092
Size Total 0.092 Ac|under 1 Acre
Size Total Text 0.092 Ac|under 1 Acre

Rooms

Level Type Dimensions
Main Level Full Bathroom Measurements not available
Main Level Bedroom 9 ft x 11 ft
Main Level Bedroom 9 ft x 12 ft
Main Level Foyer 6 ft x 4 ft
Main Level Kitchen 10 ft x 13 ft

https://www.realtor.ca/real-estate/23466272/583-ellis-street-penticton-main-north

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