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  • 575 Ellis Street,, Penticton, British Columbia  V2A 4M4 - Photo 1 - 190580

575 Ellis Street, Penticton, British Columbia V2A 4M4

$849,900

2 Bathroom 1284 sqft

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 190588 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 583 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 & opportunity! Price PLUS GST. Dup ICI list#190584 (id:37036)

Property Details

MLS® Number 190580
Property Type Single Family
Neigbourhood Main North

Building

Bathroom Total 2
Constructed Date 1945
Half Bath Total 1
Stories Total 2
Size Interior 1284 Sqft
Type House
Utility Water Municipal Water

Land

Acreage No
Size Irregular 0.089
Size Total 0.089 Ac|under 1 Acre
Size Total Text 0.089 Ac|under 1 Acre

Rooms

Level Type Dimensions
Second Level Full Bathroom Measurements not available
Second Level Not Known 9 ft x 6 ft
Second Level Not Known 13 ft x 12 ft
Main Level 2pc Bathroom Measurements not available
Main Level Kitchen 8 ft x 7 ft
Main Level Not Known 12 ft x 10 ft ,4 in
Main Level Other 15 ft x 12 ft ,8 in
Main Level Other 7 ft x 7 ft

https://www.realtor.ca/real-estate/23466200/575-ellis-street-penticton-main-north