583 Ellis Street, Main North, Penticton

583 Ellis Street

Main North, Penticton

583 Ellis Street

Main North, Penticton


Bedroom icon2 Beds
Bathroom icon1 Bath
Squarefootage icon888 sqft

About this House in Main North, Penticton

Multi-family development site in an excellent location close to the downtown core in Penticton. RM5 Zoning pending. Seller has a pending City of Penticton development permit & building permit application for an 8 unit purpose built rental building. Most due diligence has been completed on the project which includes: building plans, energy model and, feasibility studies. Excellent return once the project is complete with an estimated 5.6% Cap Rate. The Seller is willing to work with a qualified Buyer on the build out of this project. This property can be sold individually or in conjunction with the neighbouring property 575 Ellis Street, to allow a total of 16 rental units. Currently, there is an older house on the property that is utilized as a vacation rental. This is in an excellent location close to schools, shopping and Okanagan Lake. Excellent opportunity to benefit from the strong rental market in Penticton. (id:14735)


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  • MLS®: 188887
  • Type: House
  • Bedrooms: 2
  • Bathrooms: 1
  • Square Feet: 888 sqft
  • Lot Size: 4,008 sqft
  • Full Baths: 1
  • Storeys: 1 storeys
  • Style: Wood frame

Contact Norm now to see this property in person!