Fircrest Apartments

110 Bowron Ave, Quesnel

Sold for $1,360,000

$1,360,000

Sale Price

25

Total Units

1965

Year Built

6.97%

Cap Rate

DESCRIPTION

Fircrest Apartments at 110 Bowron Ave, Quesnel was sold for $1,360,000. The property is located on a corner lot on the main street through downtown. All amenities and services are a short walk away. The building is in a good state of repair. Windows and boiler have recently been replaced. Building is consistently full with no history of vacancy.

Ample surface parking is available for all tenants. Heat is gas-fired hot water. Tenants pay their own electricity, phone and internet. Cable is included for some units. The building is clean and in good condition. As a result vacancy is low and income is high.

This is a rare opportunity to acquire this building after a long tenure of ownership. If building a more perfect portfolio is part of your dream, inquire today.

SPECIFICATIONS

Property Type · Apartment Building
Sale Price Per Unit · $54,400
Cap Rate · 6.97%
Lot Size · 19,602 Sq Ft (0.45 Acres)
Rentable Sq Ft · 15,775
Year Built · 1962
Zoning · MU2
Suite Mix · 24 x 1-Bedroom, 1 x 2-Bedrom
Parking · 30 Surface Spaces w/ Plug-Ins

HIGHLIGHTS

• Excellent Downtown Location

• New Windows (2014), Boiler (2013) & Roof (2003)

• Quesnel Vacancy Rate is Just 4%

LOCATION

Civic Address
110 Bowron Avenue
Quesnel, BC, V2J 2H2

Legal
Lot 8 Block 18 Town of Quesnel Plan PGP17000 Except Parcel A (47017M), Lot 9 Block 18 Plan PGP17000 District Lot COFQ Land District 05 Except Plan 17507, Lot 10 Block 18 Plan PGP17000 District Lot COFQ Land District 05

PIDs
011-610-344, 013-453-831, 013-453-874

Assessed Value (2020)
$995,100

Taxes (2020)
$10,601