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Crestwood 11300 Pazarena Pl 24 Unit Apartment Building $13,181,271 USD ($549,220 USD/Unit) 4.87% Cap Rate Maple Ridge, BC V2X 5P1
INVESTMENT HIGHLIGHTS
- Property qualifies for CMHC financing, offering a rare opportunity to acquire a high-quality, new mixed-use project with an attractive cap rate.
- Fully stabilized asset with market-rate rents in place and a long-term daycare tenant.
- Reputable, well-recognized developer.
- Built to condo quality, featuring modern design elements, energy-efficient windows, with premium finishes and appliances.
EXECUTIVE SUMMARY
On behalf of Polygon Crestwood Homes Ltd. (“Polygon”), Cushman & Wakefield ULC (“C&W”) is pleased to present to the investment market, a 100% freehold interest in Crestwood, located at 11300 Pazarena Place, Maple Ridge, collectively referred to as the “Property”. The Property is improved with 24 large rental units overtop an operating daycare at grade, situated adjacent to the Lougheed Highway and the Provenance Townhome Community.
Crestwood features 18,491 square feet of residential net rentable area consisting of 24 units: 2 one-bedrooms, 8 one-bedrooms and dens, 6 two-bedrooms, 6 three-bedrooms, and 2 three-bedrooms and dens with an average unit size of 770 square feet. In addition, Crestwood includes a fully leased daycare facility comprised of 7,173 square feet of commercial net rentable area with a fenced outdoor space of 4,430 square feet. The Property is 100% occupied and was built in 2024 by Polygon, known for its meticulous construction and unwavering attention to detail.
Crestwood features 18,491 square feet of residential net rentable area consisting of 24 units: 2 one-bedrooms, 8 one-bedrooms and dens, 6 two-bedrooms, 6 three-bedrooms, and 2 three-bedrooms and dens with an average unit size of 770 square feet. In addition, Crestwood includes a fully leased daycare facility comprised of 7,173 square feet of commercial net rentable area with a fenced outdoor space of 4,430 square feet. The Property is 100% occupied and was built in 2024 by Polygon, known for its meticulous construction and unwavering attention to detail.
PROPERTY FACTS
| Price | $13,181,271 USD | Apartment Style | Low-Rise |
| Price Per Unit | $549,220 USD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.59 AC |
| Cap Rate | 4.87% | Building Size | 25,664 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 2.49/1,000 SF |
| Zoning | C-1 - Commercial | ||
| Price | $13,181,271 USD |
| Price Per Unit | $549,220 USD |
| Sale Type | Investment |
| Cap Rate | 4.87% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.59 AC |
| Building Size | 25,664 SF |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 2.49/1,000 SF |
| Zoning | C-1 - Commercial |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Kitchen
- Refrigerator
- Stainless Steel Appliances
SITE AMENITIES
- Controlled Access
- Day Care
- Fitness Center
- Security System
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
| 2+1 | 6 | - | - |
| 3+1 | 8 | - | - |
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Crestwood | 11300 Pazarena Pl
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