Share
$2,890,000
British Columbia,Penticton
For Sale Active
328 NANAIMO Avenue, Penticton, British Columbia V2A1N7
Contact Seller
Basic Details
Description

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 4.71% 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:62650)

Read More
Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: 10375800
  • Price: $2,890,000
  • Year Built: 1968
  • Status: Active
  • Office Name: Chamberlain Property Group
  • Property Attached Yn: 1
  • Property Sub Type: Multi-family
  • Office Key: 278193
Features & Appliances
Features
  • Heating System: Electric, Baseboard heaters
  • Parking: Street
  • Sewer: Municipal sewage system
Address Map
  • Location: CA, British Columbia, Penticton, V2A1N7
  • Street: NANAIMO
  • Street Number: 328
  • Street Suffix: Avenue
  • Longitude: W120° 24' 9.2''
  • Latitude: N49° 29' 51.2''
  • Street Dir Suffix: West
Additional Information
  • Water Source:
  • Lot Size Dimensions: 0.23
Financial
  • Tax Annual Amount: 10016.43
Powered by REALTOR.ca
Listing updated: 2026-03-16 19:29:43
List Your Property
Mortgage Calculator
Get Pre-Approved
$
$
%
%
years
Monthly Payment (Est.) $
Similar Properties
Listing Information
  • List Agent Key: 2009640
  • List Office Key: 278193
  • Modification Timestamp: 2026-02-12T23:15:47Z
  • Originating System Name: Association of Interior REALTORS®
  • Status Change Timestamp: 2026-02-12T22:58:46Z
Powered by REALTOR.ca
Listing updated: 2026-03-16 19:29:44
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By‐Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.

Website is operated by a brokerage or salesperson who is a member of The Canadian Real Estate Association.

The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non‐commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, “screen scraping”, “database scraping”, and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.

By continuing to use this website and its services, you agree to these

These forms are provided to ComFree’s Unrepresented Sellers as a part of their Mere Posting ComFree Listing Contract.

I acknowledge I can only access these forms as a ComFree customer under contract.

These forms are provided to ComFree’s Unrepresented Sellers as a part of their Mere Posting ComFree Listing Contract and in partnership with Zubic Law.

I acknowledge I can only access these forms as a ComFree customer under contract.

These forms are provided to ComFree’s Unrepresented Sellers as a part of their Mere Posting ComFree Listing Contract and in partnership with Zubic Law.

I acknowledge I can only access these forms as a ComFree customer under contract.

How It Works

1. Purchase Your Package

2. We Ship Your ‘For Sale’ Sign

3. Book Your VR Tour

4. Complete Listing Input Forms

5. We Make Your Listing Live

6. Get Support 7 Days a Week

7. iSOLD!