5206 43 St NE, Chetwynd Northern BC

$2,700,000
MLS No: 167449
Property type: Townhomes
Area (Sq Ft)
44,550
Units
27
Price Per Unit
100,000
Cap Rate
10.50
GRM
6.70

Specifications

  • Land Size: 118,483 Sq Ft
  • Year Built: 1979
  • Land Size (Acres): 2.72

Description

Woodside Estates townhome complex for sale at 5206 43 St NE, Chetwynd.

All 27 units are large 3 bedroom townhouses.  Buildings were built in 1979 and fully renovated in 1994.  All units have 1 full bathroom, 1 half bathroom, 2 parking stalls and insuite washer/dryer. Tenants pay for their own heat and power.

Recent updates include new furnaces in 2015, brand new roofs in 2017 and refresh of unit interiors.

The townhome buildings are on 6 strata-titled lots, perfect for syndicators or investment groups. Current market rent averages $1,115 per unit per month. Strong cash flow and market fundamentals makes this a solid investment.

Addresses: 5206, 5208, 5210, 5212, 5214 & 5216 43 St NE, Chetwynd, BC, V0J 1C0

PIDs: 018-­529-­551, 018-­529-­569, 018­-529-­542, 018-­529-­534, 018­-529-­577, 018-­529­-526

Legal Descriptions: LOTS 1, 2, 3, 4, 5, & 6 PLAN # PGS177 DIST LOT 482 LAND DIST 44  TOGETHER WITH AN INTEREST IN THE COMMON PROPERTY IN PROPORTION TO THE UNIT ENTITLEMENT OF THE STRATA LOT AS SHOWN ON FORM 1.

  • 3 Bedrooms, 1.5 Bathrooms

5206 43 St NE, Chetwynd

Operating Statement

 

Total Number of Units

27

Total Rentable Area (Approx SF)

44,550

INCOME

Current

Per Unit

Pro Forma

Per Unit

Gross Rental Income

$361,128

$13,375

$403,200

$14,933

Gross Income

$361,128

$13,375

$403,200

$14,933

Vacancy Allowance

3.0%

($10,834)

($12,096)

Effective Gross Income

$350,294

$12,974

$391,104

$14,485

EXPENSES
Property Tax

$14,331

$531

$14,500

$537

Insurance

$17,294

$641

$17,500

$648

Repairs and Maintenance

$32,549

$1,206

$25,000

$926

Property Management

$26,970

$999

$28,000

$1,037

Office & Supplies

$391

$14

$500

$19

Utilities

$20,274

$751

$22,000

$815

Total Expenses

$111,809

$4,141

$107,500

$3,981

% of Effective Gross Income

32%

27%

NET OPERATING INCOME

$238,485

$8,833

$283,604

$10,504

 

5206 43 St NE, Chetwynd

Value Indicators

 

Current

Pro Forma

List Price

$2,700,000

$2,700,000

Value Indicators
Cap Rate

8.83%

10.50%

Gross Rent Multiplier

7.48

6.70

Price Per SF

$61

$61

Price Per Unit

$100,000

$100,000

Financing*
Downpayment* 35%

$945,000

$945,000

First Mortgage*

$1,755,000

$1,755,000

Interest Rate/Amortization*

3.75% / 25 Years

3.75% / 25 Years

Cash Flow Analysis
Net Operating Income

$238,485

$283,604

10.50

($107,944)

($107,944)

Debt Coverage Ratio

2.21

2.63

Net Cash Flow After Debt Service

$130,541

$175,660.00

Return After Debt Service (%)

13.8%

18.6%

Principle Reduction (Year One)

$43,374

$43,374

Total Return ($)

$173,915

$219,034

Total Return (%)

18.4%

23.2%

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 $75,000,000 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…