a stigmatized property sold through transparency, not spin
- downtown chilliwack land with value-add zoning
- publicly known incident addressed head-on
listing
description
This deal wasn’t just about numbers — it was about strategy, trust, and timing.
The property at 46101 Princess Avenue was a value-add multifamily site in downtown Chilliwack, just a block from the Five Corners intersection and on the edge of a fast-transforming neighbourhood. But it came with a challenge that couldn’t be ignored: a publicly known fatal shooting had occurred in the front yard. That history made the asset a stigmatized property — and a complicated one to sell.
Rather than dance around the issue, I leaned in. We included the incident in the marketing materials and even linked directly to the news coverage. Why? Because transparency attracts the right buyers — and repels the ones who were never going to close. This approach meant no surprises, no deal-killers, and no wasted time. It allowed us to work only with serious, aligned investors who could focus on what mattered: the zoning, the location, and the long-term potential.
The result? A successful exclusively listed sale in a market segment where three previous deals had fallen apart. We scheduled high-volume showings, created clear messaging, and got it closed. And the takeaway is simple: what you hide will come back to bite you. What you face early can be turned into strategic advantage.
investment
thesis
An infill apartment site in a transitioning downtown location, offering rental income today and future redevelopment potential under C2 zoning — ideal for long-term hold or repositioning.
policy
context
Zoned C2 (Downtown Commercial), the property is situated one block from Chilliwack’s revitalizing Five Corners core. The site supports medium-density residential and commercial mixed-use development, aligning with the city’s long-term growth and densification strategy for its historic downtown.
buyer
appeal
Buyers were drawn to the upside: a corner site with solid structure, below-market rents, and strong tenant retention. But more importantly, they appreciated the honesty. By addressing the property’s stigmatized history early, I cleared the way for serious buyers to engage without hesitation — and kept the deal clean from start to finish. In real estate, few things stay hidden forever. But when addressed head-on, even reputational challenges can be reframed — and sold.
Stigmatized site, openly marketed
C2 zoning with future development potential
Sold through transparency and buyer alignment
specifications
Sold Price: $862,500
Total Units: 8 (5 x 1-Bedroom, 2 x 2-Bedroom)
Lot Size: 8,712 SF
Rentable Area: Approx. 5,000 SF
Year Built: 1971
Cap Rate at Sale: 5.11% (projected >6% at market rents)
Zoning: C2 (Downtown Commercial)
Renovation Year: 2014–2015 (Interior and Exterior)
Parking: 6 Surface Stalls
Legal Description: Lot 18 Block 19 Plan NWP1737 Land District 36 DIVISION E
PID: 012-339-792
Assessed Value (2019): $967,000