Property Description

“Arran House” is an exceptional building, located in the beautiful Okanagan, across the street from the senior’s centre, a short walking distance to Skaha Lake and Penticton’s major shopping centre, and just a short drive to the airport. This four storey apartment building has great street appeal and extensive outdoor Xeriscape plantings which promotes low water usage. The exterior is brick with vinyl siding and a newer torch on roof. There are two hydraulic elevators, and a 100+ stall parking lot which has been recently been resealed, the parking lines repainted and new entry/exit signs installed. Tenants have access to four laundry rooms, each having 2 washers and 2 dryers, all coin operated and owned by the building. Extensive renovations have recently been done at a cost of over $95,000. These include new hallway carpets in the hallways on two floors, new LED lights on all four floors, and a new high efficiency water heater and storage tank. Electric heaters in the halls are on a central control. The fire panel has been replaced, a new hook up for the Fire Standpipe installed, and all fire doors are now on a magnet system to remain open unless a fire occurs. A six camera surveillance system was designed that allows tenants to view from their tv’s any activity around the building and who is buzzing them from the front door. All units have also had the windows refitted for original Mohair insulation, exhaust fan air dampers retrofitted, and all electrical plugs/switches changed to Decora style. Shaw has a new cable system to the building via an underground connection. One third of the cable wiring to the units has been upgraded and Shaw will continue the upgrades at their cost. With any turnover in the units, the owner has repainted with a dual colour scheme, installed new drapes and replaced the carpets as needed. The suites are air conditioned, have smoke detectors, in suite storage, and large balconies. The current tenancy base is mostly seniors, many on multiple year contracts, and they pay their own cable, telephone and electricity.