Pine Bluff Apartments

380 & 400 Third Street, Nanaimo, BC V9R1W5

$6,700,000 CAD

69 Units | Multifamily

Multifamily Property For Sale

Price:
$6,700,000 CAD
No. Units:
69
Building Size:
59,180 SF
Price/Unit:
$97,101.45 CAD
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Lot Size:
1.36 AC
Listing ID
20399446
Last Updated
15 days ago

Find Out More...

Highlights

  • Two-building apartment complex on 1.36 acres of land
  • Significant value-add opportunity
  • Strong rental apartment market with a low vacancy rate of 1.5% (per CMHC Oct -2016)
  • In proximity to an abundance of amenities
  • Within a 5 minute drive of Downtown Nanaimo
  • Below average operating costs tenants pay their own heat (electric baseboard) and there are no interior hallways to heat

Description

Avison Young is pleased to present this value-add opportunity to acquire Pine Bluff Apartments, a two-building apartment complex at 380 and 400 Third Street in Nanaimo, BC. Pine Bluff Apartments consist of two, 3-storey walk up apartment buildings comprising a total of 69 spacious rental units. The apartments are ideally located, situated within a 5 minute drive of Downtown Nanaimo and in proximity to an abundance of amenities.

Pine Bluff Apartments are located in the Harewood neighbourhood of Nanaimo and close to many popular amenities including Vancouver Island University, Duke Point and Stewart Ave. Ferries, River Falls Provincial Park and multiple shopping centers for the renter' s ultimate convenience.

Attachments

Unit Mix Information

Commercial property information by LoopNet

Map of 380 & 400 Third Street, Nanaimo, BC V9R1W5

Contact Listing Broker to find out more details.

Presented by

Avison Young Commercial Real Estate

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Contact Listing Broker
Rob Greer (604) 647-5084
Chris Wieser (604) 647-5089
Carey Buntain (604) 647-1352
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