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Crestview Manor & Spanish Villa 2 Multifamily Properties Offered at $16,000,000 CAD in Penticton, BC
Investment Highlights
- Heavy daytime foot traffic
- close to public transit
- Access to highway
- Lots of natural light
- Retail amenities nearby
- Ample parking
Executive Summary
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.
Property Facts
| Price | $16,000,000 CAD | Number of Properties | 2 |
| Price / SF | $223.81 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 4.61% | Total Building Size | 71,490 SF |
| Sale Type | Investment | Total Land Area | 1.20 AC |
| Status | Active |
| Price | $16,000,000 CAD |
| Price / SF | $223.81 CAD / SF |
| Cap Rate | 4.61% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 71,490 SF |
| Total Land Area | 1.20 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Spanish Villa
195 Perkins Cres, Penticton, BC V2A 2H4 |
Multifamily | 41,967 SF | 1969 | - |
|
Crestview Manor
864 Fairview Rd, Penticton, BC V2A 5Y8 |
Multifamily | 29,523 SF | 1975 | - |
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Crestview Manor & Spanish Villa
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