Apartment Buildings for Sale and Multi-family Property for Sale on Vancouver Island
Including apartment buildings for sale in Victoria, Nanaimo, Campbell River, Duncan, Cowichan Valley, Port Alberni, Esquimalt, Oak Bay, Saanich, Sydney, View Royal, Colwood, Langford, Sooke, Parksville, Qualicum Beach, Courtenay, Comox, Port McNeill, and Port Hardy .
Apartment Buildings for Sale in Greater Victoria
Are you thinking about purchasing an apartment building for sale or multi-family property for sale in Victoria, Oak Bay, Esquimalt, Saanich, Sydney, View Royal, Langford or Sooke?
Follow two easy steps and I can assist you. Firstly click on the button below to enter your contact information. Secondly click on the items that match your investment preferences. After receiving your information, I will email you information on new listings of apartment buildings for sale in Greater Victoria as they become listed for sale.
Click for sales information
McKenzie Manor for Sale at 1010 McKenzie Ave. in Saanich
Asking Price: $19,000,000
Contact me to discuss your best opening offer!
Price per Suite: $271,428
Capitalization Rate: 3.98
70 Suites with: 36 – 2bdrm 28 – 1bdrm 6 – bachelor
Built in 1976 on 1.58 acres
Click here to view a video of McKenzie Manor
Click here for a street view of McKenzie Manor
Click here for a location analysis of McKenzie Manor
This property is not listed by André. The listing realtor representing the seller has the best interests of the seller in mind and therefore is not allowed under BC Real Estate Regulations to also represent you. Therefore,if you are interested in this apartment building and want to be represented by a realtor who will have your best interest in mind call me at 250-940-2713 or email me at [email protected] and I will get back to you shortly. 10/19
Apartment Buildings for Sale in Duncan and the Cowichan Valley
Thinking about purchasing an apartment building or multi-family property for sale in Duncan or the Cowichan Valley?
I can assist you to find an apartment building for sale in Duncan or the Cowichan Valley. Firstly click on the button below to enter your contact information. Secondly click on the items that match your investment preferences for Duncan. After receiving your information, I will email you information on new listings of apartment buildings for sale in Duncan and the Cowichan Valley as they become listed for sale.
13 Suite Waterfront Apartment Building for Sale
Sold by Andre ( Sale Completes December 2020 )
30 North Shore Rd ,Town of Lake Cowichan
Price reduced from $1,720,000 to $1,620,000. Owner wants to sell! Great investment opportunity! You can own this rare 2 storey apartment building situated on the banks of the pristine Cowichan River with gorgeous water & mountain views. Originally built as a 400 seat movie theatre, the property was redeveloped with all the necessary building permits in the early 80’s as an apartment building. North Shore Manor has a total of 13 units with a history of little or no vacancies. The suites generate an annual revenue of over $128,340.00. The cap rate for this lucrative investment works out to be 5.7% at a price per suite of $124,615. Newer carpeting, updated double glazed windows, laminate & tile flooring & newer countertops & bathtubs in the apartments are just some of the updates. The property is zoned C-3 and is only a 20 minute drive from Duncan. It is centrally located in town, within easy walking distance to shops and bus stop.
Click here to view videos of common areas of North Shore Manor
Photo gallery of notable building and property features
Landscaped and decorative front entry
Click image for larger view and then click arrow to view next larger imageSecured Entry Intercom Newer commercial grade carpeting, emergency lighting, baseboard heaters in halls Emergency lighting and fire hoses in all hallways Newer commercial grade carpeting and emergency lighting in stair wells Newer laminate flooring in most suites Newer countertops and sinks/fawcets in most suites Newer cupboards and appliances in most suites Picture of Living Room in a one bedroom suite ( all suites with newer double glazed windows ) Laundry room ( equipment owned by building ) Roof replacement in approximately 8 years Steps from property down to private dock Gazebo with BBQ and fire pit on waterfront for tenant’s use Storage areas under stairs and in basement Each suite has its’ own hot water tank located in basement area ( no flooding risk ) Individual electrical meters for 13 suites Phone connections etc. in electrical room View from suites View from dock View from dock
North Shore Financials 2020
Asking Price Reduced from $1,720,000 to $1,620,000
13 suites with 2 studio, 7 one bedrooms and 4 two bedrooms
Tenants pay for heat, hot water and hydro.
Laundry is owned by building.
Offering a capitalization rate of 5.7% and a corresponding attractive price per suite of $124,615. Above capitalization rate is based on below market rents
North Shore Manor Financials
Rent Roll – September 2020
Suite Anniversary Date of last Date for next rental
Number Type Rent Date rent increase increase notice
1 one bdrm $780 12/01/2018 12/2018 10/01/2020
2 one bdrm 640 05/01/2017 05/2017 10/01/2020
3 one bdrm 820 05/01/2019 05/2019 10/01/2020
4 two bdrm 1010 09/01/2018 09/2018 10/01/2020
5 two bdrm 940 04/01/2020 04/2020 01/01/2021
6 one bdrm 656 09/01/2015 01/2020 10/01/2020
7 one bdrm 780 06/01/2020 06/2020 03/01/2021
8 one bdrm 800 09/01/2016 01/2020 10/01/2020
9 two bdrm 1200 04/01/2020 04/2020 01/01/2021
10 two bdrm 1050 07/01/2019 07/2019 10/01/2020
11 one bdrm 720 12/01/2018 12/2018 10/01/2020
12 bachelor 543 08/01/2012 01/2020 10/01/2020
13 bachelor 561 05/01/2015 01/2020 10/01/2020
Total monthly rent $10,500
Total estimated laundry 195
Total monthly income $10,695
Income and Expense Statement
Total annual rent (based on August rents ) $128,340
Expenses:
Insurance $8,600
Taxes 9,293
Hydro 2,900
Cleaning common areas 3,100
Repairs/Maintenance 6,300
Water/garbage 5,757
Total Annual Expenses $35,950
Total Annual Net Income $92,390
All tenants are on month to month leases except suites 5,7 and 9 that are on a one year lease that then reverts to month to month
10 of the 13 suites can immediately be served with a three month notice of rent increase at a new owner’s discretion.
Apartment Buildings for Sale in Nanaimo
Thinking about purchasing an apartment building or multi-family property for sale in Nanaimo? I can help you
Complete two easy steps and I will be able to assist you. Firstly, click below to enter your contact information. Secondly, click on the items that match your investment preferences for Nanaimo. As a result, I will email you information on new listings of apartment buildings for sale in Nanaimo.
Apartment Buildings for Sale in Port Alberni
Would you like to buy an apartment building or multi-family property for sale in Port Alberni?
Click the button below to fill in your contact information and investment preferences. I will email you information on new listings of apartment buildings for sale in Port Alberni as they become listed for sale.
Apartment Buildings for Sale in Parksville and Qualicum Beach
Planning to buy an apartment building or multi-family property for sale in Parksville and/or Qualicum Beach?
Click the button below to fill in your contact information and investment preferences. I will email you information on new listings of apartment buildings for sale in Parksville and Qualicum Beach as they become listed.
Apartment Buildings for Sale in Courtenay and Comox
Are you thinking about purchasing an apartment building or multi-family property for sale in Courtenay and/or Comox?
Click the button below to fill in your contact information and investment preferences. I will email you information on new listings of apartment buildings for sale in Courtenay and/or Comox as they become listed.
Apartment Buildings for Sale in Campbell River
Looking to buy an apartment building or multi-family property for sale in Campbell River?
I can assist you to find an apartment building for sale in Campbell River . Firstly click on the button below to enter your contact information. Secondly click on the items that match your investment preferences for Campbell River. After receiving your information, I will email you information on new listings of apartment buildings for sale in Campbell River as they become listed for sale.
Apartment Buildings for Sale in Port McNeill and Port Hardy
Are you thinking about buying an apartment building or multi-family property for sale in Port McNeill and/or Port Hardy?
I can assist you to find an apartment building for sale in three easy steps.. Firstly click on the button below to enter your contact information. Secondly click on the items that match your investment preferences for Port Hardy and/or Port McNeill. Finally click send. After receiving your information, I will email you information on new listings of apartment buildings for sale .