Value-add investment property for sale at 1051 Chamberlin Ave Prince Rupert. Re-zoning is approved for a rental building for residents aged 55+.
Many improvements have already been completed. A state-of-the-art metal roof was installed in 2016, windows have been replaced, exterior aluminum was re-painted and concrete accessibility ramps were installed at all entrances.
The interior is ready for renovation. Drywall repairs and repainting of rooms has been completed. All flooring and fixtures that require replacement have been removed. The interior floors, kitchens and bathrooms are ready for refurbishing.
Restaurant and lounge features beautiful exposed wood beams and skylight. A lobby, reception area and office welcome future residents at the entrance. A large common area on the second floor is ready for your design ideas.
The building is home to 34 bachelor units and 2 one-bedroom suites. Architect designs and renderings are available.
Rent furnished rooms for 55+ residents and offer meal services. Cap rate projections from 10.69% to 14.48% after renovation.
Financials projections are available for the qualified purchaser. Inquire for more details.
- Development Permit Application
- Architectural Drawings and Renderings
- Environmental Phase I
Address: 1051 Chamberlin Avenue, Prince Rupert, B.C.
Legal Description: Lot 2 District Lot 251 Range 5 Coast District Plan PRP11628
Also for sale is Digby Tower, 200 Sherbrooke Ave, Prince Rupert, a flagship high-rise building.