Downtown Penticton apartment sold at record per-unit price of $192K

The 12-unit building sold for a total of $2.31 million

By
for Western Investor
May 13, 2019





penticton apartment
- RE/MAX Penticton Realty.
 
A fully renovated downtown Penticton apartment building has sold for $2.31 million, the Green Real Estate Group at RE/MAX Penticton Realty reports. 
 
The 12-unit property includes 11 one-bedroom suites and one one-bedroom unit. The property has a gross revenue of $154,000 with a 5 per cent capitalization rate. It was sold at a record price per unit of $192,500.
 
The property is located at 391 Haynes St., Penticton. 
 

Breakdown: 

 
Price: $2,310,000
No. of Units: 12
Price/Unit: $192,500
Lot Size: 12,197 SF
Property Type: Multi-family 
Zoning: RM3
2018 B.C. Assessment Value: $1,659,000
City: Penticton 
Province: B.C. 
Name of Brokerage: RE/MAX Penticton Realty 
 

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