For Sale: 328 W Nanaimo Avenue, Penticton, BC - REW
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$2,589,000
0 bd • 0 ba • sf • Multifamily
328 W Nanaimo Avenue
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$2,589,000
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328 Nanaimo Avenue WPenticton, BC, V2A 1N7

  • 0 Bed
  • 0 Bath
  • Sqft
  • Multifamily

About this home

Welcome to a rare investment opportunity in the heart of beautiful downtown Penticton. This well-maintained 11-unit apartment building sits on three separate titles and offers a strong, diversified unit mix: 7 one-bedroom suites, 3 two-bedroom suites, and 1 studio apartment. Currently generating a 5.5% cap rate, this property provides immediate, stable returns with future upside potential. A major highlight of this offering is the 2.7% assumable CMHC-insured mortgage (OAC) — an exceptional financing opportunity in today’s market that significantly enhances cash flow and overall return on investment. Each unit features its own private deck or patio—perfect for enjoying the renowned Okanagan weather. The building has seen numerous updates over the years, including a new roof in 2019. All suites are equipped with newer hot water tanks, air conditioning, and individual electric meters, with tenants paying their own hydro—helping to keep operating costs in check. Additional highlights include convenient coin-operated laundry and the benefit of a long-term live-in caretaker who manages the day-to-day operations, making this a truly turnkey investment. With stable, long-term tenants in place and rents currently below market value, this very clean and easy-to-manage property offers solid cash flow today and excellent upside potential for investors looking to expand their portfolio in one of Penticton’s most desirable locations. (id:63626)
Listed by: Kirk Chamberlain, Personal Real Estate Corporation, Chamberlain Property Group

Home facts and features

Price details
List Price
$2,589,000
Get Pre-Approved
Gross Taxes for 2026
$10,016
Home facts
Bedrooms
0
Full Bathrooms
Parking Details
Street
Property Type
Multifamily
Lot Size
10018 ft²
Depth
Year Built
Built in 1968 (58 yrs old)
Title
Freehold
Heating Type
Baseboard heaters, Electric
Features
Smoke Detector Only
Agent details
Primary Agent
Kirk Chamberlain
Primary Broker
Chamberlain Property Group
Secondary Agent
Secondary Broker
Chamberlain Property Group
Listing details
Days on REW
20 Days
Property Views
149
MLS® Number
10388006
Source
Canadian Real Estate Association
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Estimated Payments
Purchase Price
Mortgage Total
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

Queens Park School
  • Public
  • Pre-K - 5
Penticton Secondary School
  • Public
  • 9 - 12
Penticton Christian School
  • Independent
  • K - 12
KVR Middle School
  • Public
  • 6 - 8
Holy Cross School
  • Independent
  • K - 8
Ecole Entre Lacs
  • Public
  • K - 8
L’école Entre-lacs
  • Public
  • K - 8
Uplands Elementary School
  • Public
  • K - 5
Carmi School
  • Public
  • Pre-K - 5
Parkway Elementary School
  • Public
  • K - 5
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Personal Real Estate Corporation
Kirk Chamberlain and Jaclyn Dacyk Chamberlain Property Group
Phone:
250-486-8887
Cell:
250-486-4100
Office:
778-755-1177
Tina Johns
Phone:
(778) 531-7722
Office:
(778) 476-7778
Fax:
(778) 476-7776
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