Oliver Place Manor is located 5895 Main Street, in Oliver B.C. across the street from Oliver Place Mall on the main commercial corridor (Highway 97 S) of Oliver. The property is approximately one half acres (21,800 sf) in size with approximately 113 feet fronting Main Street, and 194 feet fronting Similkameen Ave. The front and sides of the property are landscaped with a large parking lot at the rear with 33 onsite parking stalls which are provided to the tenants at no additional charge.
The building is a wood frame three story walk up apartment constructed in 1976. The foundation is poured concrete slab with the exterior finished with vinyl siding. The roof is built up tar and gravel and composite. Gross building area is approximately 16,926 square feet (three floors @ 61.67 feet wide by 91 feet long).
There are twenty-two suites, of which six are located on the main floor, and eight are located on each of the second and third floors. Four two bedroom suites are located on each end on the main floor, and the remaining eighteen suites are one bedroom units. All second and third floor suites have private balconies, and the main floor units have large fenced patios. The average size of the suites are 672 square feet for the two bedroom units, and 602 square feet for the one bedroom units. Typical suite configuration consists of a kitchen, dining room, living room, one or two bedrooms, and a four piece bathroom.
Heat is provided by electric baseboards and all suites have wall mounted air conditioning units. Hot water is provided by a gas fired common water heater. Although the units are separately metered, the current owners have elected to pay all in suite utilities and offer the units for rent with all utilities and parking included. Because the suites are separately metered it is possible to change the rental structure to direct utility billing to new renters, and for existing tenants on their applicable anniversary dates.
Twenty-one storage spaces are located on the main floor which are provided to the tenants at no additional costs; Laundry is provided by coin operated common amenities.
A Resident Caretaker has managed the property for over twenty years and occupies a two bedroom suite on the main floor. The Resident caretaker is responsible for general maintenance and renting of suites.
How to Okanagan Investment Revenue Commercial Real Estate Kelowna Penticton Update Raymond MAASKE 250.878.2218 Investment Real Estate Expert
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Raymond MAASKE, is an accountant and licensed real estate broker with considerable experience in commercial and residential Real Estate. He has owned and managed a wide range of businesses and continues to build solid relationships with businesses and BUYERS & SELLERS.
Investment Real Estate Expert, TerraCorp Real Estate Services
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