Multifamily
Crestview Manor
864 Fairview Road, Penticton, BC V2A 5Y8
Listing Price: $8,350,000
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap presents an opportunity to acquire Spanish Villa and Crestview Manor, two 42-suite apartment buildings in close proximity to each other near downtown Penticton. Both properties have been family operated for nearly 20 years and are professionally managed by the family’s in-house management team.
Spanish Villa and Crestview Manor each have their own distinct character, yet both provide investors with strong in-place cash flow and a clear path to revenue growth through targeted renovation programs. With over $1.3 million in capital improvements invested since 2018, key infrastructure has been enhanced—allowing investors to focus on unit upgrades upon tenant turnover. The properties are held in bare trusts, and while a portfolio sale is preferred, individual offers will be considered.
A comprehensive data room is available, including building condition reports, environmental reports, financial and operation documents, and competitive mortgage availability summaries.
Crestview Manor
Investment Highlights
- Over $500,000 in capital expenditures and renovations since 2018 including new exterior decks, full high-efficiency domestic hot water tank replacement and new lobby.
- Electric baseboard heat paid for by tenants through Enerpro. New high-efficiency hot water tanks for domestic hot water
- Well-balanced suite mix of 30-1 bedroom and 12-2 bedroom suites. 8 of the 42 units have been renovated.
- Ideally located with walkable access to shopping, transit, and healthcare, including proximity to Penticton Regional Hospital.
Exclusively Listed By
Listing Price: $8,350,000
Investment Highlights
- Over $500,000 in capital expenditures and renovations since 2018 including new exterior decks, full high-efficiency domestic hot water tank replacement and new lobby.
- Electric baseboard heat paid for by tenants through Enerpro. New high-efficiency hot water tanks for domestic hot water
- Well-balanced suite mix of 30-1 bedroom and 12-2 bedroom suites. 8 of the 42 units have been renovated.
- Ideally located with walkable access to shopping, transit, and healthcare, including proximity to Penticton Regional Hospital.
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap presents an opportunity to acquire Spanish Villa and Crestview Manor, two 42-suite apartment buildings in close proximity to each other near downtown Penticton. Both properties have been family operated for nearly 20 years and are professionally managed by the family’s in-house management team. Spanish Villa and Crestview Manor each have their own distinct character, yet both provide investors with strong in-place cash flow and a clear path to revenue growth through targeted renovation programs. With over $1.3 million in capital improvements invested since 2018, key infrastructure has been enhanced—allowing investors to focus on unit upgrades upon tenant turnover. The properties are held in bare trusts, and while a portfolio sale is preferred, individual offers will be considered. A comprehensive data room is available, including building condition reports, environmental reports, financial and operation documents, and competitive mortgage availability summaries.
Exclusively Listed By
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