610 Laird St, Fraser Lake Northern BC

$1 249 900
Property type: Apartment Building
Area (Sq Ft)
23,030
Units
31
Price Per Unit
44,607

Specifications

  • Land Size: 53,579 Sq Ft
  • Year Built: 1980
  • Land Area (Acres): 1.23
  • Buildings: 1
  • Storeys: 3

Description

610 Laird St, Fraser Lake is a 31-unit apartment building for sale. Suite mix includes 16 one-bedroom, 14 two-bedroom and 1 three-bedroom apartments. Building was constructed in 1980.  It’s known in Fraser Lake as “The Brown Building”.

The Brown Building at 610 Laird St, Fraser Lake has been substantially updated.  All units have been renovated over the past few years.  Almost 90% of all in-suite flooring, doors, paint and lighting have been updated or replaced. Appliances, cabinetry and fixtures have been replaced when units turn over. As a result of recent upgrades and a long-term maintenance program, you can be confident in the security of your investment.

As a result of a 1,100 person work camp built on the edge of town, the population of Fraser Lake will double in the next 8 months.  Take advantage of this unique opportunity for upside and huge cash flow.  Cap rate projection of 9.06%.

The Brown Building at 610 Laird St is available by itself or combined with “The Black Building” at 565 Mouse Mountain Drive, Fraser Lake.

Inquire for more details via email [email protected] or call (778) 235-9293.

Suite Mix

  • One Bedroom
  • Two Bedroom
  • Three Bedroom

Building Features and Finishes

Construction

  • Poured Concrete Foundation
  • Wood Framing
  • Wood Exterior
  • Asphalt Shingle Roof (Replaced in 2009)
  • Single Pane and Double Pane Windows
  • Parking Surface

Mechanical

  • Electric Baseboard Heating
  • Common Area HVAC Fan
  • High Efficiency Natural Gas Hot Water Tank
  • Fire Panel, Smoke Detectors and Fire Extinguishers

Utilities

  • Municipal Water and Sewer
  • BC Hydro
  • PNG Natural Gas
  • Telus, Bell, Norwestel

Amenities

  • Parking Spaces with Plugs for All Units
  • In-suite Storage in All Units
  • Shared Laundry on Ground Floor, 3 Washers, 3 Dryers

Kitchen

  • Linoleum Flooring (Updated)
  • Two Appliances (Updated Fridges)
  • Wood Cabinets
  • Laminate Counter-Tops
  • Lighting (Updated)

Bathroom(s)

  • Linoleum Flooring
  • Laminate Counter-Tops
  • Wooden Cabinets
  • Bathtub and Toilet Fixtures

Living/Dining/Bedrooms

  • Laminate Living/Dining Room Floors (Updated)
  • Laminate and Carpet Bedroom Flooring (Updated)
  • Balconies (Railings Updated 2018)

Coastal Gaslink LNG Pipeline

Fraser Lake LNG Pipeline

Fraser Lake is strategically located near the halfway point of the recently announced Coastal Gaslink LNG pipeline. The $10 billion pipeline crosses the Trans-Canada Highway in only one place – Fraser Lake!

The community is poised for influx of construction jobs.  A 1,100-person work camp is planned just 3 km from Fraser Lake Apartments.  A proposed LNG compression facilities is just a few kilometres west. Long term pipeline service and maintenance will also be based in Fraser Lake.

In other communities, work camps create an influx of high-paying tenants. Engineers, foreman, and managers often choose to stay in other accommodations, not the camp.  There will also be a surge of service jobs to take care of the camp population.

See a February 19, 2019 news release about the camp HERE.  More details about the pipeline and construction timeline can be found at http://www.coastalgaslink.com/

 

Endako Molybdenum Mine

Fraser Lake is also home to the Endako molybdenum mine. Mining operations were put on hold in 2015. The mine has remaining life of at least 27 years. Recent investment into the mine exceeded $500 million.

The mine is operated as a joint venture with Thompson Creek holding a 75% interest and Sojitz Corporation, a Japanese company, holding a 25% interest.

The Endako Mine is a fully integrated facility that began operations in 1965. It includes a concentrator that processes ore through crushing, grinding, and flotation circuits into molybdenum disulfide concentrate, and a multiple-hearth roasting facility that converts the concentrate into technical grade molybdenum oxide.

Further reading on the Endako and molybdenum mining is available HERE.

Property Identification

Address: 610 Laird St, Fraser Lake, BC, V0J 1S0

PID(s): 005-854-491

Legal Description: Lot A Plan PRP9733 District Lot 2012 Range 5 Land District 14

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, incisive analysis and elite salesmanship, and you have Seth Baker. As Owner of Multifamily Real Estate Services, Seth founded his own real estate brokerage company dedicated to selling some of the world’s most valuable apartment buildings. He is a master communicator and skillful analyst. He has a diverse background with a unique combination of street smarts, business, and data technology. This background allows Seth 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 $125,000,000 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.…




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