from vancouver to terrace, sold across canada
- renovated and stabilized asset
- buyers from four provinces
- qualified and closed with precision
listing
description
Park Manor Apartments was a fully renovated, 20-unit walk-up in booming Terrace — and one of the most in-demand listings I’ve ever taken on. From my office in downtown Vancouver, this Northern B.C. asset attracted serious attention from buyers across the country due to the hype around Kitimat LNG. Inquiries came from British Columbia, Alberta, Ontario, and Nova Scotia — but the final sale went to a well-qualified buyer based in the Okanagan.
The building itself had undergone extensive upgrades inside and out, and was fully stabilized at the time of sale with zero vacancy. My role was to create national reach, filter every inquiry with expert precision, and guide the seller through a competitive, high-stakes decision process. In the end, we didn’t just find a buyer — we chose the best among many.
investment
thesis
A turnkey, fully renovated apartment asset in a growth market driven by the LNG sector. Strong income, no deferred maintenance, and rising regional demand made this a compelling acquisition.
policy
context
Zoned R4, the property aligns with Terrace’s residential intensification framework and supports long-term rental use. With high demand from industry-driven population growth and minimal comparable supply, the zoning reinforces the value of holding and operating well-renovated multifamily properties in the area.
buyer
appeal
The buyer acquired this building for its stability, quality, and long-term cash flow — but what made the difference was access and clarity. As inquiries poured in from four provinces, I was able to qualify, filter, and match the best capital to the opportunity. From showing coordination to deal structure, everything was handled with discipline and transparency. That’s what creates clean, confident closings — even in competitive, high-demand situations.
National-level buyer reach
Fully renovated and stabilized
Competitive deal with choice of buyers
specifications
Sold Price: $2,900,000
Total Units: 20
Suite Mix: 5 x 1-Bedroom, 15 x 2-Bedroom
Price Per Unit: $145,000
Rentable Area: Approx. 15,500 SF
Lot Size: 16,500 SF (0.38 acres)
Zoning: R4
Year Built: 1963
Year Renovated: 2016 (with new roof and HVAC upgrades in 2021)
Exterior Upgrades: Roof, siding, flashing, windows (2021)
Mechanical Upgrades: New boilers, partial repiping, new hot water tank (2021), suite-by-suite HVAC
Interior Upgrades: Kitchens, bathrooms, flooring, lighting, paint, doors, emergency lighting, security system
Parking: 28 Surface Stalls
PID: 017-624-649
Legal Description: PARCEL A (SEE TF394) BLOCK B DISTRICT LOT 369 RANGE 5 COAST DISTRICT PLAN 972
Civic Address: 4526 Park Ave, Terrace, BC
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