5601 Lakeshore Dr - Apartments FOR SALE


Osoyoos, BC V0H 1V6
$8,500,000 CAD
604-790-7089

NO PHOTO

$8,500,000 CAD
Apartments - FOR SALE
null | 5.23% Cap Rate

5601 Lakeshore Dr
Osoyoos, BC V0H 1V6


HIGHLIGHTS

  • High quality new-build construction built to BC Step Code 3. Features include energy efficient vinyl and cedar siding and in-suite electric heat pumps
  • The property offers assumable MLI Select CMHC financing with a total loan amount of $7,072,094, 5-year term, and 50-year amortization
  • Apartment buildings are rarely offered for sale in the South Okanagan, and a new building offers an even rarer opportunity to capitalize on the demand
  • All suites feature well-appointed kitchens with full appliance packages, in-suite washers, and dryers, and luxurious vinyl plank flooring

OVERVIEW

The McEvay Blair Multifamily Group of Marcus & Millichap presents the rare opportunity to purchase Brightwater Apartments, a brand-new apartment building currently under construction in the South Okanagan city of Osoyoos. Brightwater Apartments consists of 24 high quality apartment suites with 23 2-bedroom/1 bathroom suites and 1 one bedroom/1 bathroom suite, all featuring a spacious balcony or patio, many with terrific views of Osoyoos Lake. There is elevator service for the building, 39 surface parking stalls and each suite features its own secured storage room off the balcony or patio. The suites all feature open floor plan layouts that are bright, spacious and well appointed including luxury vinyl plan flooring, in-suite washers and dryers, and full appliance package in the kitchens including dishwashers and over-the-range microwaves. Each suite has its own heat pump and condenser for heating and cooling with each suite individually metered for hydro with tenants responsible for this utility. Domestic hot water is provided to the tenants through gas-fired hot water tanks. The property is scheduled for completion in Q1 2026 and is being built to BC Step Code 3 allowing for CMHC MLI Select take-out financing for a purchaser to assume at a 50-year amortization. A full dataroom is available upon execution of our CA.

FOR SALE DETAILS

PRICE

$8,500,000 CAD

PRICE/SF

$365 CAD /SF

# OF UNITS

24

PRICE/UNIT

$354,167

CAP RATE

5.23%

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brightwater Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

James BlairMarcus & MillichapMore Info
604-790-7089

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James BlairMarcus & MillichapMore Info
604-790-7089

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.