8408 92 Ave, Fort St John Northern BC

$4 250 000
MLS No: Exclusive
Property type: Townhomes
Area (Sq Ft)
26,250
Units
21
Price Per Unit
202,381
Cap Rate
5.25
GRM
13.0

Specifications

  • Land Size: 67,082 Sq Ft
  • Year Built: 2000
  • Land Size (Acres): 1.57
  • Property Title: Freehold Strata
  • Assessed Value (2019): $4,566,100

Description

Exclusive opportunity to acquire Canterbury Estates at 8408 92 Ave, Fort St John – a 21-unit strata-titled townhome complex in the booming Peace River Region.

All units have 3-bedrooms, 2-bathrooms, attached garages, in-suite laundry, forced air furnaces and natural gas hot water tanks. Units are metered individually, keeping your expenses low.

Property is fully occupied and cash-flowing. Tenants love the large unit sizes and in-suite storage space. Compare these suites to any new builds in Fort St John and you’ll see why. You might consider a mild interior renovation to further boost rents.

Canterbury Estates is located in a quiet residential area. Duncan Cran Elementary and North Peace Secondary are nearby. All kinds of amenities can be found at Totem Mall less than 2km away.

Fort St John is rated by BC Business Magazine a one of the best place to live and work anywhere in the province. The booming LNG industry is set to bring thousands of jobs to the region. Townhome rentals are preferred over apartments by many local worker, especially those with families.

List price is $316,000 below assessed value, creating instant upside.

Strata Re-Sale Option

All 21 units are individually strata-titled. As a result, the option exists to re-sell strata townhomes into Fort St John’s high-demand residential real estate market.

A conservative estimate indicates a 3-year annual yield of 30.55% and Return on Equity of 45.95%. Call for more details and market analysis.

Reports Available

The following reports are available with an accepted offer:

  • Building Condition Assessment (Pinchin Engineering)
  • Survey Certificate and Site Plan
  • Building Drawings and Floorplans
  • Environmental Site Assessment (ESA) Phase I
  • Demographic Reports (Housing Profile, Income Profile, Etc)

Property Identification

Address: #1 – 21, 8408 92 Ave, Fort St John, BC, V1J 6X2

PIDs: 024-875-121, 024-875-112, 024-875-104, 024-875-082, 024-875-074, 024-875-066, 024-875-058, 024-875-040, 024-874-914, 024-874-922, 024-874-931, 024-874-949, 024-874-957, 024-874-965, 024-874-973, 024-874-981, 024-874-990, 024-875-007, 024-875-015, 024-875-023, 024-875-031

Legal Description: Strata Lots 1 – 21 Section 32 Township 83 Range 18 West of the 6th Meridian Peace River District Strata Plan PGS336, together with an interest in the common property in proportion to the unit entitlement of the strata lots as shown on Form V

Contact the Agent

Seth Baker

Managing Broker & Owner
Phone
(778) 235-9293
Fax
(778) 650-0350
Address
801 - 938 Howe Street
Vancouver, BC, V6Z 1N9
In the rarified realm of rental development and multifamily property investing in British Columbia, Seth Baker is a true standout. As the owner and founder of Multifamily Real Estate Services, Seth has become a formidable force in this fiercely competitive industry. Read on to find out how his unique background, traits, education, work experience and zest for continual improvement have converged to make him one of the most respected professionals in the Vancouver apartment building brokerage world. Seth’s company, Multifamily Real Estate Services, is a widely respected real estate brokerage firm that specializes in connecting professional real estate investors with lucrative opportunities in Metro Vancouver and throughout the province. Located directly in the city, the company assists in the sale of some of the most valuable apartment buildings in the world. Seth’s commitment to forging powerful relationships with multifamily investors and developers provides a unique ability to help all parties…




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