A heritage rental building near downtown with development potential has sold for $1.15 million, reports London Pacific Property Agents. The existing building is split into nine apartments and offers good cash flow.
Breakdown:
Property type: Multi-family rental building
Location: 1441 Richter Street, Kelowna
Number of units: 9
Property size: 2,701 square feet
Land size: 12,197 square feet
Zoning: RU6B (Boarding or lodging house)
BC Assessment value: $1.2 million
List price: $1.29 million
Sale price: $1.15 million
Date of sale: March 27, 2020
Brokerage: London Pacific Property Agents Inc., Vancouver
Broker: Mike Guinan-Browne
