William Wright Commercial and the CBRE National Apartment Group – BC are pleased to present the unique opportunity to acquire The Sunoka Apartments located at 6203 Willow Avenue in the heart of Summerland, British Columbia.

The Sunoka Apartments include 25-units in two separate buildings. The property was developed by the current owners in 2008 and have been fully leased for a majority of this timeframe with healthy market turnover, which has assisted the building in achieving strong growth in rental income.

This is a rare opportunity to acquire a newer, well-located apartment building just minutes from Downtown Summerland and walking distance to Lake Okanagan. The location of the property, along with the limited amount of rental competition in Summerland, make this one of the most sought-after investment opportunities in the area.

Further detailed information on this excellent opportunity can be acquired by signing a Confidentiality Agreement and connecting with our team.

Property Profile

The subject property consists of a 25-unit building situated on a 27,232 sq. ft. land parcel. The Sunoka Apartments is 10,340 sq. ft. and was constructed in 2008. The property features sixteen studios and nine 1 bedroom apartment units in two separate 2-storey buildings. The property includes a well-kept private courtyard and parking for every unit. The property is wood-frame construction and all units are heated and cooled via a P-Tac unit in the living area and baseboard heating in the bathroom.

Investment Highlights

• Limited Competition: Summerland has very limited supply of rental buildings making this one of the most desirable buildings in the city.
• Newer Construction: The Sunoka Apartments was constructed in 2008 and its newer vintage allows for limited CapEx requirements in comparison to that of an older building.
• Fully Tenanted Apartment Building: The Sunoka Apartment building attracts and retains quality tenants with little vacancy and a waiting list.
• Low Maintenance Costs: The building has very little common areas resulting in very low maintenance costs.
• Opportunity to Assembly: Opportunity to acquire the neighbouring Summerland Motel creating a large 1.37 Acre site with future redevelopment potential.
• Rental Rate Upside: The Okanagan Valley and Summerland have seen consistent rental rate increases over the past 5+ years.

Summerland is a picturesque town located in the southern interior of British Columbia. Situated along the shores of Okanagan Lake, it is part of the Okanagan Valley, renowned for its stunning landscapes, vineyards, and orchards. Summerland is located on the western shore of Okanagan Lake between Kelowna and Penticton, providing residents and visitors with beautiful waterfront views and recreational opportunities. The climate is very desirable with warm sunny summers and relatively mild winters, making it an attractive destination for vacation goers and residents. Summerland has a friendly and welcoming small-town atmosphere, with a close-knit community that loves to celebrate its agricultural heritage which can mostly notably be seen by the local fruit stands, markets and wineries.

The subject properties are located along Highway 97 and Tait Street which is considered Trout Creek (a charming community in South Summerland). The subject properties have great visibility and exposure along Hwy 97, which cannot be missed when driving by. Countless amenities are located in the heart of Summerland which is a short 3-minute drive away. Additional recreational opportunities and sites are located within driving distance such as beach access to Lake Okanagan, Summerland Golf and Country Club, Kettle Valley Steam Railway, and countless parks and trails.