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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