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1441 Richter Street,
Kelowna V1Y2M1

$1,399,900
Multi-family built: 1907

Main Photo: 1441 Richter Street, in Kelowna: Multi-family for sale : MLS®# 10146353
Prop. Type:
Multi-family
MLS® Num:
10146353
Status:
Active
Year Built:
1907
This historic building known as the C. Martin House has been converted to operate as a 9-room boarding house. Sitting on a double lot, this building has approximately a 4.4% CAP rate on asking (currently rented for substantially below market rents), but it should be able to achieve at least a 6% CAP rate, at market rents. All 9 of the rooms in the building have their own full bathroom. 8 of the 9 rooms have their own countertop with sink and fridge, and the 9th room is substantially larger and has a full kitchen. The basement contains coin-operated laundry and storage lockers for each room. The large garage is also rented out as storage to a local business. Many of the residents have happily lived here for several years. The city has said that they are open to the idea of allowing nightly rentals in the building, so summer vacation rentals along with furnished monthly rentals in winter would likely be possible, if desired to further increase revenue (buyer to investigate). For more informationor to arrange your own private viewingplease call, text, or email Kattlin Stass of Century 21 Assurance Realty Ltd at 250.515.2649 or kattlin.stass@century21.ca (id:2493)
Property Type:
Multi-family
Transaction Type:
For sale
Ownership Type:
Freehold
Community:
Kelowna North
Amenities:
Shopping, Schools, Park, Public Transit
Features:
Central location, Corner Site, Visual exposure, Flat site, Level
Building Type:
Multi-Family
Age:
111 years
Exterior Finish:
Wood siding
Fireplace:
No
Heating:
Baseboard heaters
Roof Style:
Asphalt shingle, Conventional
Water:
Municipal water
Sewer:
Municipal sewage system
Land Amenities:
Shopping, Schools, Park, Public Transit
Road Access:
Easy access
Landscape Features:
Landscaped, Fully landscaped
Lot Size:
12,196.8 sq. ft.
Lot Size:
0.28 ac|under 1 acre
Lot Details:
0.28
Total Parking Spaces:
9
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Kattlin Stass of Century 21 Assurance Realty Ltd
Listing information last updated on April 20, 2018 at 06:31 PM (UTC)
DAVID PUSEY
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
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