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Value-add multifamily opportunity trades in Penticton

Stable rental income in a desireable market supported pricing
1028-government-street-penticton
Capitol Manor, a 26-unit apartment building in Penticton, sold Nov. 30, 2023, for an average price of $162,500 a door.

DEAL | Capitol Manor, a 26-unit rental apartment building at 1028 Government Street, Penticton, sold Nov. 30, 2023 for more than $4.2 million. The property was listed with Cushman & Wakefield for $4.3 million. Built in 1974, the four-storey woodframe building is approximately 25,000 sf on a 16,335 sf lot zoned RA-2. Below-market rents and larger-than-average units position the property as an exceptional value-add opportunity in highly desireable market.

PRICE | $4,225,000

FROM | David Venance, Cushman & Wakefield