Kelowna nine-unit multi-family rental sells at $128K per door

Heritage building close to downtown has good cash flow and sold for $1.15 million

By
for Western Investor
April 3, 2020





DD Kelowna heritage multi-family rental building

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


Mike Guinan-Browne (PREC) is Senior Broker, Multi-Family and Development Land, at London Pacific Property Agents

London Pacific Property Agents Inc.
2nd Floor - 3660 Charles Street
Vancouver, BC V5K 5A9
londonpacific.ca
T 604 420 2600 Ext 215
C 604 805 9904
MGuinanBrowne@londonpacific.ca

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