446 Lumby-Mabel Lake Road, Lumby, BC

Photo

33.48 AC
Multifamily
$5,000,000
Sale


Visit https://www.spacelist.co/listings/885782 to download attachments and/or view virtual tours.

Well situated in a growing Okanagan market, the property is conveniently located with its close proximity to Vernon and an hour drive from Kelowna International Airport. The property offers little required future capital expenditures with close to $500,000 spent within the last two years to replace two new septic fields. The park has a strong going in cap rate, with room for improvement upon turnover. Current pad rentals average $356 per month, with new pads renting at $550 per month upon turnover. The park is built on a sprawling 33.4 acres of land, with room to add additional pads to increase potential income. Sufficient scale allows the potential purchaser to have a “hands off” approach with a caretaker currently in place.


The Space
Asking Price$5,000,000
Available Space33.48 AC
Net Operating Income$260663
Property UseMulti family
Cap Rate5.21%
SourceDirect

The Building
Property TypeMultifamily
Lot Size33.48 AC