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5601 Lakeshore Dr 24 Unit Apartment Building $6,108,516 USD ($254,522 USD/Unit) 5.23% Cap Rate Osoyoos, BC V0H 1V6
INVESTMENT HIGHLIGHTS
- High quality new-build construction built to BC Step Code 3. Features include energy efficient vinyl and cedar siding and in-suite electric heat pumps
- Apartment buildings are rarely offered for sale in the South Okanagan, and a new building offers an even rarer opportunity to capitalize on the demand
- The property offers assumable MLI Select CMHC financing with a total loan amount of $7,072,094, 5-year term, and 50-year amortization
- All suites feature well-appointed kitchens with full appliance packages, in-suite washers, and dryers, and luxurious vinyl plank flooring
EXECUTIVE SUMMARY
The McEvay Blair Multifamily Group of Marcus & Millichap presents the rare opportunity to purchase Brightwater Apartments, a brand-new apartment building currently under construction in the South Okanagan city of Osoyoos.
Brightwater Apartments consists of 24 high quality apartment suites with 23 2-bedroom/1 bathroom suites and 1 one bedroom/1 bathroom suite, all featuring a spacious balcony or patio, many with terrific views of Osoyoos Lake. There is elevator service for the building, 39 surface parking stalls and each suite features its own secured storage room off the balcony or patio.
The suites all feature open floor plan layouts that are bright, spacious and well appointed including luxury vinyl plan flooring, in-suite washers and dryers, and full appliance package in the kitchens including dishwashers and over-the-range microwaves. Each suite has its own heat pump and condenser for heating and cooling with each suite individually metered for hydro with tenants responsible for this utility. Domestic hot water is provided to the tenants through gas-fired hot water tanks.
The property is scheduled for completion in Q1 2026 and is being built to BC Step Code 3 allowing for CMHC MLI Select take-out financing for a purchaser to assume at a 50-year amortization. A full dataroom is available upon execution of our CA.
Brightwater Apartments consists of 24 high quality apartment suites with 23 2-bedroom/1 bathroom suites and 1 one bedroom/1 bathroom suite, all featuring a spacious balcony or patio, many with terrific views of Osoyoos Lake. There is elevator service for the building, 39 surface parking stalls and each suite features its own secured storage room off the balcony or patio.
The suites all feature open floor plan layouts that are bright, spacious and well appointed including luxury vinyl plan flooring, in-suite washers and dryers, and full appliance package in the kitchens including dishwashers and over-the-range microwaves. Each suite has its own heat pump and condenser for heating and cooling with each suite individually metered for hydro with tenants responsible for this utility. Domestic hot water is provided to the tenants through gas-fired hot water tanks.
The property is scheduled for completion in Q1 2026 and is being built to BC Step Code 3 allowing for CMHC MLI Select take-out financing for a purchaser to assume at a 50-year amortization. A full dataroom is available upon execution of our CA.
PROPERTY FACTS
| Price | $6,108,516 USD | Property Subtype | Apartment |
| Price Per Unit | $254,522 USD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 5.23% | Construction Status | Under Construction |
| Gross Rent Multiplier | 14.78 | Building Size | 23,291 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2026 |
| Price | $6,108,516 USD |
| Price Per Unit | $254,522 USD |
| Sale Type | Investment |
| Cap Rate | 5.23% |
| Gross Rent Multiplier | 14.78 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.50 AC |
| Construction Status | Under Construction |
| Building Size | 23,291 SF |
| No. Stories | 3 |
| Year Built | 2026 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | - |
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5601 Lakeshore Dr
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