Multi-family investment with an advantage. This is an opportunity to acquire a
profitable 16 suite building as well as an adjacent multi-family corner lot. The
property is in the City of Chilliwack's OCP for 4 storey residential us allowing
for 28-54 units per acre and offers a buyer a future development opportunity.
The heat and hot water are provided in the rent with hydro individually metered
and paid by the tenants. New roof completed in 2009 and the high efficiency gas
boilers were installed new in 2004. With new stoves and fridges in units and
carpets replaced in the hallways the property is in above average condition and
makes it easy for a buyer to purchase and operate with little or no further
investment. Note the +/- 5.8% CAP rate based on the asking price.
Listed Date:
Oct 28, 2011
Original Price:
$1,295,000
Units Include:
Stove, Fridge, Window Coverings, Locker/Storage Space
Property Type:
Multi-Family (Commercial)
Construction:
Wood Frame, Concrete
# Stories:
2.0
Building Type:
Low Rise (2-4 stories)
Lot Area:
0.78 acre(s)0.31 hectare(s)
Land Use/Zoning:
R5
# Units:
16
Taxes:
$9,213.00 /
2011
Visual Exposure, Flood Plain, Corner Site, Public Transit Nearby
Appliances Included
None Known
Services Connected:
Sewer - Storm, City Water, Telephone Service at Lot Line, Cable, Sanitary Sewer, Curb; Gutter, Garbage Collection, Paved Streets, Street Lighting
Water Supply:
Municipal
HVAC:
Baseboard, Radiant
Heating:
Natural Gas
Fire Protection:
Smoke Detectors, Automatic Alarm
Sewer Septic:
Municipal/Community
Listing information last updated on 28-Oct-2011 9:14 PM
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