1617 108 Ave, Dawson Creek Northern BC

$1 498 000
Property type: Apartment Building
Area (Sq Ft)
12,070
Units
18
Price Per Unit
83,222
Cap Rate
6.31
GRM
9.16

Specifications

  • Land Size: 22,320 Sq Ft
  • Year Built: 1968
  • Land Size (Acres): 0.51
  • Land Dimensions: 139.5 x 160
  • Property Taxes (2018): $9,315

Description

Crestview Apartments for sale at 1617 108 Ave, Dawson Creek.

Built cerca 1970, Crestview is an 18-unit, 3-storey building. Suite mix includes 1 bachelor, 13 one-bedroom and 4 two-bedroom units. Heating is gas-fired hot water boiler. Electricity is paid for by tenants.  Shared laundry. Storage lockers are provided.

Many capital improvements have recently been completed:

  • torch-on membrane roof (2018)
  • hot water boiler (2016)
  • domestic hot water tank (2016)
  • water pumps (2016)
  • hall carpets (~2014)
  • windows replaced as needed
  • modern fire panel installed.

As a result of updates, this building will provide a solid investment for many years to come.

Crestview Apartments is located in a quiet residential neighbourhood. Kitchen Park is across the street and Barbaree Park is one block north. Canalta Elementary School, Ron Pettigrew Christian School, Dawson Creek Secondary School and Northern Lights College are all nearby.

Location is just 5-minute drive to heart of downtown, McDonalds, Tim Horton’s, Canadian Tire, Walmart and the Dawson Creek Mall. As a result of the convenient surroundings, most residents are long-term tenants.

LNG is coming to Dawson Creek!  Dawson sits at the head of the Coastal Gaslink pipeline. LNG extraction focuses in the Peace River Region, creating substantial growth for Dawson Creek.

Cap rate is 6.31% on current income. CMHC average rents are 21% higher than current rents. Cap rate projection of 7.48% on CMHC average rent. Significant upside!

This is your chance to acquire an updated apartment building in a growth market. Call (778) 235-9293 today!

Suite Mix

  • One Bedroom
  • Two Bedroom
  • Bachelor

Building Features and Finishes

Exterior

  • Concrete Perimeter Foundation
  • Wood Frame
  • Wood Siding, Abitibi Siding and Stucco Exterior
  • Torch-On Bitumen Membrane Roof (2018)
  • Insulated Glass Vinyl-Frame Windows
  • Partial Crawl Space
  • Gravel Parking Area
  • 20 Surface Parking Spaces with Plug-Ins

Mechanical

  • BC Hydro Electrical 
  • Individual Electric Meters for Suites
  • Natural Gas-Fired Hot Water Boiler (2016)
  • Radiant Hot Water Heating (2016)
  • Fire Alarm Panel & Fire Extinguishers (~2014)

Interior

  • Laminate, Linoleum Carpet and Vinyl Tile Flooring
  • Laminate Countertops in Kitchen and Bathrooms
  • Solid Wood Cabinets in Kitchens and Bathrooms
  • 4-Piece Bathrooms (Shower, Bathtub, Toilet, Sink/Vanity)
  • 2-Piece Kitchens (Fridge and Stove)
  • Storage Lockers
  • Shared Laundry (2 Washers, 2 Dryers)

Utilities

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

Reports Available

  • Environmental Site Assessment Phase I
  • Building Condition Assessment (Pinchin Engineering)

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…