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.

Apartment building for sale at 1010 McKenzie Ave in Saanich
McKenzie Manor for Sale at 1010 McKenzie Ave. in Saanich

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 )

 

Waterfront view from a suite at
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

View of common areas
Outside waterfront area and tenant amenity area
View inside suites

Photo gallery of notable building and property features

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 .