10413 13 St, Dawson Creek Northern BC

$4 590 000
Property type: Apartment Building
Area (Sq Ft)
36,350
Units
51
Price Per Unit
90,000
Cap Rate
7.01
GRM
9.57

Specifications

  • Land Size: 52,272 Sq Ft
  • Year Built: 1970
  • Land Size (Acres): 1.22
  • Building Gross Sq Ft: 46,800
  • Parking Spaces: 58
  • Car Plug-Ins: 66

Description

Centennial Manor, 10413 13 St, Dawson Creek is a stable cash flow apartment building for sale.  Actual income of more than $300,000 per year provides a cap rate of 7%!!  Return-on-equity in year one is between 12-17%!!!

Where else in British Columbia can you earn such strong cash flow AND benefit from a high-growth market?

LNG Canada’s Coastal GasLink pipeline construction has begun. Dawson Creek already has a strong industry base of agriculture, mining, forestry, oil & gas, construction, manufacturing and tourism. As the LNG industry develops, hundreds of permanent jobs will be created in Dawson. The time to get in is now. Prices are rising (already up 10% y/y) and growth is accelerating.

Centennial Manor is in excellent condition.  Recent upgrades include a new elevator, roof, hot water boiler system and domestic hot water system.  Hydro meters are individual.  Tenants paying their own hydro, cable, internet.  Heat and hot water are included in rent.  Shared laundry is provided.

As a result of a vibrant economy, years of population increase, and a rapid rise in housing prices, Dawson Creek is a secure rental market with solid prospects for the future.

Reports Available

  • Building Condition Report (Pinchin Engineering)
  • Environmental Site Assessment Phase I (Pinchin Engineering)
  • Demographic Reports (Housing Profile, Income Profile, Etc)

Suite Mix

  • One Bedroom
  • Two Bedroom
  • Bachelor

Building Features and Finishes

Construction

  • Concrete Slab-on-Grade Foundation
  • Wood Frame
  • Stucco, Stone Veneer and Vinyl Siding Exterior
  • Torch-On Membrane Roof (2010)
  • Vinyl Frame Double Glazed Windows

Mechanical

  • Two Natural Gas Direct-Vent Boilers (2006)
  • Backup Hot Water Boiler System
  • Two 80 Gallon Natural Gas Hot Water Heaters (2012)
  • Hydraulic Elevator System (2010)
  • 600 Amp Main Electric Service
  • Individual Electric Meters

Utilities

  • Water/Sewer – City of Dawson Creek
  • Electric – BC Hydro
  • Natural Gas – FortisBC

Suite Interiors

  • Vinyl Tile Flooring
  • Carpeted and Vinyl Flooring in Bedrooms
  • Fridge and Stove in Each Suite
  • Microwaves in Some Suites
  • Dishwashers in Some Suites
  • Laminate Countertops
  • Insuite Storage in All Units
  • Shared Laundry Room with 4 Washers and 3 Dryers

Dawson Creek Demographics

Dawson Creek Demographics

Contact the Agent

Seth Baker

Managing Broker & Owner
Phone
(778) 235-9293
Fax
(778) 650-0350
Address
119 W Pender St, Suite 104
Vancouver, BC, V6B 1S5
Combine bold entrepreneurship, unique data analysis and elite salesmanship, and you have Seth Baker. As Owner of Multifamily Real Estate Services, Seth takes on challenging responsibilities, such as founding his own real estate brokerage company and selling some of the world’s most valuable apartment buildings. He is a master communicator and skillful analyst. His impressive technology background allows him to maintain priceless market data while building powerful relationships with multifamily investors and developers. Ask him about how to get people to agree. It’s his secret talent. Seth Baker has led an impressive career in real estate brokerage. He is personally responsible for more than $87,000,000 in real estate sales, a number that’s growing daily.  He has contributed to a number of industry organizations including LandlordBC, Vancouver Board of Trade, BC Non-Profit Housing Association, Greater Vancouver Home Builders Association and Urban Development Institute. He received his Managing Broker’s Licence through UBC’s…




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