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For Sale · Specialty

686 Martin Street, Penticton

686 Martin Street, Penticton, BC V2A5L6

$1.6M total

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Asset Class

Specialty

Size

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Building class

B

Zoning

US — Urban Services

$ / SF

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Occupancy

92%

Lot Size

0.21 ac

About this property

Amazing downtown Penticton development site with DP in place for 30 units in a 6 storey building. Twenty one bed plus den units that are 770 sqft, ten 2 bed 2 bath units at 995 sqft and one ground floor commercial unit of 1180 sqft. Located on Martin Street, Penticton’s south bound one-way street in the downtown core located on the bike route just a short walk to amentities, restaurants, shopping and Okanagan Lake beach and parks. This property is zoned C5 and is 92 ft x 100 ft. (9251.6 sq ft ). C5 zoning is Penticton best downtown zoning with 6 FAR, 100% lot coverage and max hight of 36.6 meters. Call today don’t miss out. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.55M
Down payment30% · $465K
Interest rate6.25%
Amortization25 years
Occupancy92%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$114K

Annual cash flow

$28K

Cash-on-cash

5.94%

DSCR

1.32

Going-in cap

7.32%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

88,499

Households

42,083

Median income

$93,000

Median age

33

Daytime population

143,960

5-yr growth

9%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 686 Martin Street, Penticton.

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.