Parkside Manor
132 Power Street, Penticton, BC
FOR SALE
Property Details
- Site Size 21,344 sf
- Zoning RM3
- Land Use Designation High Density Residential - Up to 6 storeys
- Year Built 1973
- Storeys 4
- Units 28
- Suite Mix Bach: 1 | 1-Bed: 11 | 2-Bed: 16
- Net Rentable Area 23,968 sf
- Parking 21 stalls
- Pricing Guidance Contact Listing Agents
Opportunity
The Avison Young Multi-Family Team is pleased to present an opportunity to acquire Parkside Manor, located at 132 Power Street in Penticton, BC. The property is a 4-storey, 28-unit rental apartment building with a highly desirable suite mix and spacious units. Parkside Manor has had numerous capital upgrades completed over the years and is positioned on a prime 21,334 sf lot, steps from Okanagan Lake. This offering represents a significant value-add opportunity to increase revenue in one of British Columbia’s most desirable communities.
Investment Highlights
Prime half acre lot steps from Okanagan Lake and Lakeshore Drive
Exceptional suite mix with 16 two-bedroom units averaging 980 sf
Extensive capital upgrades including roof, windows, patio doors, boiler and more
Significant rental upside (average rent $1.28 psf)
Future development potential (up to 6 storeys)
