8,195 ft²Multifamily$3,960,000Sale
8,195 ft²
Multifamily
$3,960,000
Sale
This is a unique opportunity to purchase a well-managed rental complex that has been with the same ownership group for over 40 years.Positioned in the Cedar Cove neighborhood, an area whose rental market has become extremely competitive in recent years and is currently experiencing historically low vacancy rates (0.4% as per 2023 CMHC records). Combine this with rising rents, a strong local economy, and a growing population; the complex offers investors a current stable cash flow with revenue upside upon tenant turnover. As an added bonus, a future opportunity to develop and increase density is available under the Grandview Woodlands OCP.
The Space
Asking Price$3,960,000
Available Space8,195 ft²
Property UseMulti family
Taxes$10,355/yr
ZoningGrandview OCP 2.4 FSR
Year Built1967
Parking Spaces9
SourceDirect
The Building - Parkview Apartments
Parkview Apartments, originally constructed in 1967, is comprised of a 3 storey - 12 unit apartment building that has ample surface parking and is situated on a well-located 8,195-square-foot lot. A suite mix consisting of 11 one-bedroom and 1 two-bedroom units, with spacious floor plans; the majority being corner units that boast wrap-around balconies.
Property TypeMultifamily
Floors3
Lot Size8,195 ft²
Up to $500K for British Columbia businesses
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