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Caprice Manor 157 Wade Av W 17 Unit Apartment Building $1,871,039 USD ($110,061 USD/Unit) 4.70% Cap Rate Penticton, BC V2A 1T7
Investment Highlights
- Established 16-unit apartment building in Penticton.
- Positioned within a mature residential neighborhood.
- Located near downtown services, shopping, and dining amenities.
- Convenient access to major community amenities and transportation routes.
Executive Summary
This is a rare opportunity to acquire a low maintenance, 17 unit rental complex. Comprised of a 16-unit apartment building and a detached commercial-zoned house situated on a 0.32-acre site in one of Penticton’s most desirable rental locations. Built in 1975, the property has benefited from numerous recent capital improvements and offers strong in-place cash flow with significant future rental upside as suites turn over to market rents. Residents enjoy covered parking, storage lockers, an on-site laundry room, and convenient access to shopping, restaurants, transit, and everyday amenities. With Penticton’s low 2.2% CMHC vacancy rate supporting continued rental demand and the offering priced well below assessed value, this is a rare opportunity to secure both stable income and future value appreciation in one investment.
Property Facts
| Price | $1,871,039 USD | Apartment Style | Low-Rise |
| Price Per Unit | $110,061 USD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 4.70% | Building Size | 15,000 SF |
| No. Units | 17 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1975 |
| Zoning | RM-2 | P1 - Zoned RM-2 | P1 and positioned as High Density Residential in the OCP | ||
| Price | $1,871,039 USD |
| Price Per Unit | $110,061 USD |
| Sale Type | Investment |
| Cap Rate | 4.70% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 15,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1975 |
| Zoning | RM-2 | P1 - Zoned RM-2 | P1 and positioned as High Density Residential in the OCP |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Intercom
- Office
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Security System
- Storage Space
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 12 | - | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
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Caprice Manor | 157 Wade Av W
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