off-market 72-unit reposition guided from the ground up
- full building walkthroughs
- renovation upside modelled
- closed through trust and access
listing
description
This 72-unit, two-building multifamily transaction in Quesnel was never publicly listed. It closed through long-standing relationships, discretion, and deep involvement at every stage. As buyer representative, I was introduced to the opportunity through direct contact with the seller — someone who trusted me enough to share property details in confidence, knowing I’d treat the information with care and deliver only when the fit was real.
With limited documentation and no formal diligence package, I led the buyer through a hands-on, ground-up review. We spent two full days on-site, touring all 72 units — every one personally — and built a custom evaluation system to photograph, log, and prioritize conditions. That system became the foundation of the buyer’s renovation plan, guiding post-acquisition capital deployment and asset repositioning strategy.
The buildings were in significant disrepair, but the upside was equally significant. I prepared renovation projections and built future value forecasts at 12, 24, and 36 months. That insight — combined with direct construction cost knowledge and site-by-site clarity — gave the buyer the confidence to proceed, knowing exactly what they were walking into and where they could take it.
investment
thesis
Two underperforming apartment buildings in a stable rental market, acquired off-market at value pricing. Full repositioning potential with a clear execution plan and measurable future upside.
policy
context
Zoned for multifamily use and located in an established residential area of Quesnel, both buildings were fully aligned with local land use policy. With no rezoning risk and solid existing use, the primary value came from physical and operational repositioning — not entitlement. That stability helped justify capital investment.
buyer
appeal
The buyer relied heavily on my involvement — from early due diligence to final close. With no building condition reports, no appraisals, and limited financials, we built clarity the hard way: on-site, side by side. I personally toured every unit with the buyer, documented conditions, and helped translate what we saw into clear budget priorities. Combined with long-range value forecasting, that level of involvement helped bridge the confidence gap and made a high-upside, high-effort deal possible.
Off-market access
Full unit-by-unit review
Major repositioning strategy
specifications
Sold Price: $5,068,000
Total Units: 72
Year Built: 1979
Zoning: RM-2
Renovation Status at Sale: Deferred maintenance; repositioning needed
Capital Plan: Designed post-acquisition based on full unit audit
Off-Market Status: Not publicly listed
Due Diligence: Buyer-led, full unit walkthroughs completed
Broker Representation: Multifamily Real Estate Services (Buyer Only)