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1441 Richter Street, Kelowna

  • $ 1,399,900
  • 10146353

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:21321)

Overview


MLS#10146353
Address1441 Richter Street, Kelowna, British Columbia, V1Y2M1
CityKelowna
On Site DateApril 1, 2018
Price$1,399,900

Property Specifications


NeighbourhoodKelowna North
Property TypeInvestment
Lot Size0.28 ac|under 1 acre acres
WaterMunicipal water
SewerMunicipal sewage system

Building Features


Year Built1907
ExteriorWood siding
HeatingBaseboard heaters
Ownership TypeFreehold
Listing Info
Listing Office:
Century 21 Assurance Realty Ltd
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NOTE: The MLS® mark and 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.
©2017 The Canadian Real Estate Association. All rights reserved. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.

Call Darcy Nyrose(Personal Real Estate Corporation)and the team at Nyrose & Associates

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