Oasis Apartments at 800 Prince Rupert Blvd is a substantially-improved apartment building portfolio for sale.
The portfolio includes 95 strata units in a 109 unit strata-titled complex. There are 4 buildings plus a fully renovated amenity building. Apartments include 42 furnished and 53 unfurnished suites. There is a mix of 1, 2 and 3-bedrooms units.
All apartments have electric baseboard heat and individual electric hot water tanks. Each suite is separately metered, keeping landlord expenses low.
A comprehensive renovation project has been completed throughout. Exterior roofs, ventilation, siding and windows have been replaced. Common areas have been fully renovated. Exterior drainage, parking areas, retaining walls, walkways and concrete patios have been replaced. As a result of capital improvements, the future owner can focus on maximizing cash flow.
Virtually all unfurnished units, have been renovated. Updates include appliances, flooring, countertops, doors, fixtures, paint, window coverings, and more, as needed. Forty-two units feature in-suite laundry. Others access shared laundry located on each floor. As a result of quality suites, you stay full.
A brand new amenity building boasts better facilities than the best hotel in town. Amenities include a brand new executive club room, billiard table, updated hot tub, sauna, gym, exercise studio, shower, and change room. A covered BBQ pit and outdoor patio area is currently under construction. A newly-built property management office and reception desk is located adjacent to the club room.
All renovations and upgrades were systematically completed to the highest quality, built to last for many decades.
Oasis Apartments occupancy rate is a staggering 94%!! Average rents are up 28% since 2015. Net income has risen between 12-24% every year for the past 5 years.
Invest in Oasis Apartments to acquire a stratified, fully improved, cash-flow portfolio of high-quality rental apartments in a strategically located city.