Multifamily
Spanish Villa
195 Perkins Crescent, Penticton, BC V2A 2H4
Listing Price: $8,150,000
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.
Spanish Villa
Investment Highlights
- Fully restored exterior with paint and reconstructed balconies along with a professionally renovated 3-storey lobby offering a lasting first impression.
- Over $800,000 in capital expenditures spent since 2018 greatly reducing the capital required to maintain the building long-term.
- 13 of the 42 suites have been renovated providing a clear investment path for increasing revenue significantly on turnover.
- Just minutes from Okanagan Lake Beach and downtown Penticton, this prime location combines residential tranquility with urban convenience.
Exclusively Listed By
Listing Price: $8,150,000
Investment Highlights
- Fully restored exterior with paint and reconstructed balconies along with a professionally renovated 3-storey lobby offering a lasting first impression.
- Over $800,000 in capital expenditures spent since 2018 greatly reducing the capital required to maintain the building long-term.
- 13 of the 42 suites have been renovated providing a clear investment path for increasing revenue significantly on turnover.
- Just minutes from Okanagan Lake Beach and downtown Penticton, this prime location combines residential tranquility with urban convenience.
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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