Park Manor
4526 Park Ave, Terrace
Sold for $2,900,000
$2,900,000
Sale Price
20
Apartment Units
2016
Year Renovated
$145,000
Price Per Unit
DESCRIPTION
Park Manor Apartments is a fully-renovated building for sale in Terrace, a city that CBC News called ‘crazy busy’. Construction on the $40 billion LNG Canada project is well underway. As home to the Northwest Regional Airport, Terrace is transforming into a significant hub for the burgeoning natural gas industry in British Columbia.
Park Manor was overhauled in 2015/2016, replete with all the modern touches. Exterior upgrades include new roof, windows, siding and flashing. Mechanical updates include two new boilers, partial re-piping of the building, and a new hot water tank ready for installation when needed.
A brand new roof installation was completed in May 2021. And the suites are currently being outfitted with individual HVAC units for heating and cooling. As a result, natural gas expenses will drop by more than 40%!!
Interior upgrades include all common area flooring, baseboards, paint, mail room, and new lighting. In-suite kitchens and bathrooms were renovated with high-end touches like tile bathtub surrounds, solid wood cabinetry, and stylish laminate countertops. Living spaces were upgraded to vinyl plank and carpet flooring with new doors and lighting throughout. A new emergency lighting system and high-end camera security system were installed to make sure your investment is safe.
Park Manor is an opportunity to capitalize on unprecedented growth in this ‘crazy busy’ city.
SPECIFICATIONS
Property Type · Apartment Building
Property SubType · 3-Storey Walk-Up
Price Per Unit · $145,000
Lot Size · 0.38 Acres (16,500 Sq Ft)
Rentable Sq Ft · 15,500 Sq Ft (Approx)
Zoning · R4
Year Built · 1963
Year Renovated · 2016 w/ Further Upgrades in 2021
Suite Mix · 5 x 1-Bedroom, 15 x 2-Bedroom
Parking · 28 Surface Spaces
HIGHLIGHTS
Located 10 minutes from the Regional Airport
Fully Renovated: Exterior, Interior & Mechanical
Zero Vacancy and Rapidly Rising Rents
LOCATION
Civic Addresses
4526 Park Ave
Terrace, BC, V8G 1V1
Legal Descriptions
PARCEL A (SEE TF394) BLOCK B DISTRICT LOT 369 RANGE 5 COAST DISTRICT PLAN 972
PIDs
017-624-649