Lakeview Apartments
Penticton, BC
FOR SALE
Property Details
- Lot Size 29,011 sf
- Zoning RM3 - Medium Density Multiple Housing
- Land Use Designation High Density Residential
- Year Build 1966
- Storeys 4
- Units 38
- Net Rentable Area 38,100 sf
- Average Unit Size 1,003 sf
- Parking 30
- Number of Elevators 1
- Stabilized Net Operating Income (July 2024) $367,765
- Financing Treat as clear title
- Sale Structure Asset Sale
- Pricing Guidance Contact Listing Agent
Overview
The Avison Young Multi-Family Team is pleased to market for sale Lakeview Apartments located at 422 Lakeshore Drive West, Penticton, BC. This meticulously maintained building offers breathtaking views of Lake Okanagan and direct beach access from the front entrance. Situated on a 29,011-sf lot, the property provides exceptional access to outdoor recreation and is just a short walk from Downtown Penticton. Its prime location presents investors with a rare opportunity to acquire one of the few apartment buildings along Lakeshore Drive, one of Penticton’s main arterial roads.
Property Highlights
Premier lot with direct access to Okanagan Lake Beach and Downtown Penticton
Favourable suite mix including a penthouse with exceptional views of Lake Okanagan
Excellent site size - 29,011 sf inclusive of two lots with infill potential
Each unit has been extensively renovated with high-quality interior upgrades
Over $1,280,000 invested in capital improvements since 2010.
