- ©MLS 1036693
Description
Well-maintained 42-unit, 3-storey apartment building on a 63,597 sq. ft. lot in Port Alberni. Strong investment opportunity with significant upside potential as current rents are below market and vacancy remains extremely low at 1.5% (CMHC Oct. 2024). Major upgrades completed in 2018–2019 include exterior envelope improvements with HardiBoard siding, double thermal pane windows, vinyl-covered balconies, and new hot water boilers. Features include elevator service, electric baseboard heating with individually metered suites, 3-phase 1,600-amp electrical service, fire alarm system, on-site Coinamatic laundry, private balconies/patios, full municipal services, and SBS flat roof updates in 2025. Bonus bachelor suite (#100) rented at $825/month, not included in stated income, offering additional revenue potential. (id:48970) Show More
Details
- Property Type: Multi-family
- Type: Multi-Family
- Neighbourhood: Port Alberni
- Management Company: TPM Properties
Location
Similar Properties
For Sale
$ 829,900 $ 250 / Sq. Ft.
- 1020908 ©MLS
- 4 Bedroom
- 4 Bathroom
For Sale
$ 479,000
- 1039894 ©MLS
- 0 Bedroom
- 0 Bathroom
For Sale
$ 489,000
- 1025434 ©MLS
- 0 Bedroom
- 0 Bathroom
This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association
Data provided by: Victoria Real Estate Board