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1191 Sunset Drive Unit# 609

$379,900

1191 Sunset Drive Unit# 609, Kelowna, British Columbia, V1Y 0J4

QuickQuote^TM: Not Available

MLS® # 10333406

438 FEETSQ sqft

Property Information:

Experience mountain views from this luxurious studio suite nestled in the heart of Downtown Kelowna at the esteemed ""One Water Street East Tower."" Constructed with a steel frame & concrete structure, enjoy the tranquility of ample soundproofing in this modern oasis. Indulge in high-end amenities including serene lap pool, heated family pool complete with shallow area & soothing fountains, rejuvenating hot tub, a lively pickleball court, and a dedicated dog run for your furry companions. Additionally, take advantage of conference/meeting rooms, a fully equipped gym with luxurious change rooms and a steam shower, and much more. Inside, discover elegant engineered hardwood flooring, sleek quartz countertops & premium stainless steel appliance package featuring natural gas stove/oven. Convenience meets comfort with included window coverings and a stacked front-loading clothing washer & dryer. Step outside and find yourself mere moments away from the picturesque beach, world-class restaurants, the vibrant downtown boardwalk, casino, and hockey stadium. With everything you need conveniently located in one place, whether you're a Kelowna local or seeking a vacation retreat, One Water Street is your ultimate destination for luxury living. Measurements are approximate and should be verified if deemed important. This unit comes with 1 storage locker. (id:27)

Building Features:

Style: Apartment
Building Type: Apartment
Amenities: Amenities, Sauna, Storage - Locker
Exterior Finish: Stucco
Fire Protection: Sprinkler System-Fire
Floor Space: 438 sqft
Flooring Type: Ceramic Tile, Hardwood
Roof Material: Tar & gravel
Roof Style: Unknown
Heating Type: Forced air, Heat Pump
Heating Fuel: Electric
Cooling Type: Central air conditioning, Heat Pump
Appliances: Refrigerator, Dishwasher, Dryer, Range - Gas, Washer

Property Features:

OwnershipType: Strata
Property Type: Single Family
Bathrooms: 1
Amenities Nearby: Park, Recreation, Schools, Shopping
Built in: 2021
Community Features: Family Oriented, Pet Restrictions, Pets Allowed With Restrictions, Rentals Allowed
Condo Fees: $250 Monthly
Features:
Floor Space (approx): 438 Square Feet
Landscape Features: Landscaped
Pool Type: Inground pool, Outdoor pool, Pool
Storage Type: Storage, Locker
Structure Type: Clubhouse
View Type: City view, Lake view, Mountain view, View (panoramic)
Zoning Type: Unknown
Sewer: Municipal sewage system
Parking Type: Parkade

Rooms:

Bedroom Main Level 15' x 30'
Bathroom Main Level Measurements not available

Courtesy of: Oakwyn Realty Okanagan-Letnick Estates

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Potential Investment Performance

Cumulative ROI

53.1%

Cumulative Market Appreciation

$72,611

Net Operating Income in Year 5

$11,675

Cash on Cash Return in Year 5

-6.7%

Assumptions

Market Appreciation Per Year

Rent Increase Per Year

Expense Increase Per Year

The information below is based on user inputs and general assumptions for informational purposes only. The outputs are not legal, financial, investment, or other advice. Review all fields for accuracy and consult an agent for guidance.

Mortgage Calculator

Mortgage
Purchase Price	$
Down Payment %	$75,980
Mortgage Amount	$303,920
Mortgage Payment %	$1,576

Cash Flow Calculator

monthly

yearly

Income
Gross Rental Income Powered By	$
Vacancy Rate %	$
Other	$
Gross Operating Income	$1,449

Operating Expenses
Management Fees %	$
Property Tax	$
Repair Reserve %	$
Insurance	$
Condo/Strata Fees	$
Total Operating Expenses	$608
Net Operating Income	$841

Debt Service
Mortgage Payment	$1,576

Net Cash Flow	-$735

Cap Rate

2.66%

Acquistion Costs

Down Payment $75,980

Land Transfer Tax $5,598

Legal Fees $1,500

Adjustments $0

Appraisal $500

Total Acquisition Costs $83,578

Components of Return

Potential Returns

	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Investments
Down Payment	$75,980	-	-	-	-	-	-	-	-	-
Closing Costs	$7,598	-	-	-	-	-	-	-	-	-
Mortgage Paydown	$4,728	$4,955	$5,194	$5,443	$5,705	$5,979	$6,267	$6,568	$6,883	$7,214
Total	$88,306	$4,955	$5,194	$5,443	$5,705	$5,979	$6,267	$6,568	$6,883	$7,214
Cash Invested	$88,306	$93,262	$98,456	$103,900	$109,605	$115,585	$121,852	$128,420	$135,304	$142,519

Rental Cash Flows
Rent and other income	$17,392	$17,913	$18,451	$19,004	$19,574	$20,162	$20,766	$21,389	$22,031	$22,692
Operating Expenses	-$7,297	-$7,461	-$7,629	-$7,800	-$7,976	-$8,156	-$8,340	-$8,528	-$8,721	-$8,918
Mortgage Payment	-$18,922	-$18,922	-$18,922	-$18,922	-$18,922	-$18,922	-$18,922	-$18,922	-$18,922	-$18,922
Net Cash Flow	-$8,828	-$8,470	-$8,101	-$7,719	-$7,324	-$6,917	-$6,496	-$6,061	-$5,612	-$5,148

Returns
Property Price Appreciation	$13,524	$14,005	$14,504	$15,020	$15,555	$16,109	$16,682	$17,276	$17,891	$18,528
Mortgage Paydown	$4,728	$4,955	$5,194	$5,443	$5,705	$5,979	$6,267	$6,568	$6,883	$7,214
Net Cash Flow	-$8,828	-$8,470	-$8,101	-$7,719	-$7,324	-$6,917	-$6,496	-$6,061	-$5,612	-$5,148
Total Return	$9,424	$10,491	$11,597	$12,745	$13,936	$15,172	$16,453	$17,783	$19,163	$20,595
Cumulative Return	$9,424	$19,915	$31,513	$44,258	$58,195	$73,367	$89,820	$107,604	$126,768	$147,363

Investment Metrics
Cumulative ROI	10.7%	21.4%	32.0%	42.6%	53.1%	63.5%	73.7%	83.8%	93.7%	103.4%
Cash On Cash	-10.0%	-9.1%	-8.2%	-7.4%	-6.7%	-6.0%	-5.3%	-4.7%	-4.1%	-3.6%