174 W 2nd Ave, Fort St James Northern BC

$2 500 000
MLS No: Exclusive
Property type: Apartment Building
Area (Sq Ft)
11,734
Units
16
Price Per Unit
156,125
Cap Rate
5.68
GRM
12.76

Specifications

  • Land Size: 53,971 Sq Ft
  • Year Built: 2017
  • Land area (Acres): 1.24
  • Land dimensions (ft): 276 x 318 (irregular)
  • Gross Building Sq Ft: 12,620
  • Rentable Sq Ft: 11,734
  • Current Cap Rate: 5.68%
  • Proforma Cap Rate: 6.98%

Description

SOLD for full asking price!!

Brand new apartment building for sale in booming Fort St James!!

Completed in July 2017, this 16-suite beauty is one of the newest rental properties in Northern BC.  Built with hands-on quality by a local builder means you’ll benefit from decades of investment security and low maintenance costs.

There are five buildings on the property including four rental buildings and one common area meeting/dining facility.  Common area building contains 2 full bathrooms (mens & womens), large kitchen with full appliance package and a substantial meeting/dining area.  Gross building square footage is 12,620 with rentable area of 11,734 sq ft.

Apartments feature high-end conveniences such as in-suite laundry, central vacuum and water softener systems in each suite.  All kitchens have brand new appliances: dishwasher, fridge, stove and microwave.

Unit flooring is ceramic tile throughout for easy accessibility, low maintenance and easy cleaning.  Bathrooms are quality linoleum for low replacement cost.  Never worry about damaged flooring again!

Eight of the 16 units are fully handicap accessible.  Others can easily be converted, making this an excellent seniors housing building.  Central parking area is large enough for two spaces per unit with plenty of room for guests.

Fort St James vacancy rate currently sits at 0%.  Yes, you read that correctly….Fort St James is a zero vacancy market.  Owning this brand new rental property gives you many options: monthly market rentals, seniors rental building, furnished rental and/or nightly motel-style rentals.

Discover more about the Fort St James Rental Market in the article titled Top 3 Reason to Invest in this Puzzling BC Town.

Property Address:  174 W 2nd Ave, Fort St James, BC, V0J 1P0

PID(s): 012-614-173, 012-614-165

Legal Description:  Lot 20 Block 1 Plan PRP1691 District Lot 110 Range 5 Land District 14, Lot 21 Block 1 Plan PRP1691 District Lot 110 Range 5 Land District 14

  • 1 Bed, 1 Bath, Unfurnished
  • 2 Bed, 1 Bath, Unfurnished
  • 2 Bed, 1 Bath, Furnished
  • 3 Bed, 2 Bath, Unfurnished

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…