Fourplex for Sale in Penticton: 116 Calgary Avenue

A purpose-built rental property doesn't come up often, and 116 Calgary Avenue in Penticton is exactly that. This fully tenanted fourplex was built in 2018, spans roughly 3,120 square feet across four self-contained suites, and is currently listed at $1,299,000 under MLS® 10395824. It is an active listing, and you can see it alongside the rest of our current listings.

The Penticton Rental Market Right Now

Penticton has been one of the tighter rental markets in the province for years. CMHC figures reported by Castanet put the city's vacancy rate at 2.6 per cent, up from 1.2 per cent the year before but still under the 3 to 5 per cent range generally considered balanced. New purpose-built projects are gradually easing pressure, but demand in the South Okanagan continues to outrun supply, and the city's summer tourism economy keeps a steady base of renters looking year-round.

Why Small Multi-Family Trades Well in This Neighbourhood

Location does a lot of the work here. The property sits within walking distance of Safeway, Starbucks, Shoppers Drug Mart, the BC Liquor Store and transit, which is precisely the kind of address that keeps units leased and turnover low. Tenants in a central Penticton location tend to stay longer, and shorter vacancy gaps have a direct effect on what an income property is actually worth.

What Investors Look For in a Building Like This

Anyone shopping for Penticton investment property tends to ask the same questions early: how old is the building, who pays the utilities, and how much management does it need. This one answers all three well. All four units are individually metered, so tenants carry their own utility costs. Every suite has in-suite laundry, which removes the shared-machine headaches that come with older conversions. The unit mix is two upper 2-bedroom, 2-bathroom suites of roughly 880 square feet each, and two lower 1-bedroom, 1-bathroom suites of roughly 680 square feet each, plus three designated parking stalls.

The Case for a 2018 Build

Newer construction is where a lot of the value sits. A building completed in 2018 has modern wiring, plumbing, insulation and building-envelope standards, which usually means lower ongoing maintenance and fewer surprise capital costs than a 1970s fourplex at a similar price point. Lenders also tend to view newer purpose-built rental stock more favourably, and it is worth running the numbers through our mortgage calculator before you build out your financing scenario.

Who This Property Suits

A turnkey fourplex like this fits an investor who wants income from day one rather than a renovation project. It also suits someone stepping up from a single rental condo into small multi-family, where four separate income streams cushion the impact of any one unit turning over. First-time investment buyers will find our home buying process guide a useful starting point for structuring an offer and a due diligence period.

Local Knowledge, Straight Answers

Income properties are priced on numbers, not on finishes, and reading those numbers correctly is the whole job. Jared Gibbons works with buyers and sellers across the Fraser Valley and beyond on residential and income real estate, and is happy to walk through the rent roll, the expenses and the comparables on this one with you.

If you're considering an investment purchase, get in touch to book a viewing at 116 Calgary Avenue. If you already own a rental property and want to know where it stands in today's market, request a free home evaluation and let's talk about your options.