Property Overview

  • Status
    Sold
  • Address
    Sheriton Apartments
    543 Rowcliffe Avenue
    Kelowna, BC
    Canada
  • Type
    Multifamily
  • Neighbourhood
    Kelowna
  • # of Units
    30
  • # of Storeys
    4
  • Year Built
    1971
  • PID
    004-944-160
  • Lot Size
    17,859 SQFT
  • Price
    $6,395,000
  • Building Type
    Wood-Frame
  • Off-Market Transaction

    Centrally Located 30 Unit Wood-Frame Rental Apartment Building, 5 Blocks South of Downtown Kelowna

     

    Cushman and Wakefield ULC is pleased to announce the successful off-market sale of 543 Rowcliffe Avenue (" the Property"), located in the heart of the Okanagan Valley’s hottest growth market of Kelowna, BC. 

    The Property, originally constructed in 1971, is a four storey purpose-built rental apartment building comprised of 30 larger than average, well appointed residential suites. The Vendor self-managed the Property with exceptional pride of ownership for over 40 years and delivered the asset to the Purchaser in excellent condition with several recent capital improvements and exceptional curb appeal which resulted in market leading value metrics.

    Ideally tucked away on a quiet residential street, yet just blocks away from the buzz of downtown Kelowna, Kelowna General Hospital and the shorelines of Okanagan Lake, residents of the Property can enjoy the convenience and livability of this coveted location; offering access to Kelowna’s top employers and premier lifestyle amenities.

     

    Sale Metrics

    Purchase Price: $6,395,000

    Price Per Unit:     $213,167

    Cap Rate:            3.90%

    David Venance
    Executive Vice President

    David Venance

    Property Location