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Midtown Apartments 1260 Kingfisher Av S 30 Unit Apartment Building $3,320,298 USD ($110,677 USD/Unit) 8.76% Cap Rate Kitimat, BC V8C 1G5
Investment Highlights
- 30 well-maintained 2-bedroom units across three buildings offer stable long-term investment potential.
- Positioned to capitalize on housing demand driven by the LNG Canada project and regional growth.
- Ideal for investors seeking reliable cash flow in a high-opportunity economic corridor.
- Located in Kitimat’s core, the property benefits from proximity to major employers and infrastructure.
- Strong rental fundamentals supported by a rising population and limited multifamily inventory.
Executive Summary
Positioned in one of Northern BC’s strongest, most resilient rental markets—fuelled by LNG Canada & Rio Tinto—turnkey, income-producing 30-unit apartment building presents an exceptional opportunity to acquire a high-performing multifamily asset with immediate and long-term upside. Property features 30 large two-bed suites with rents starting at $2,200/month, generating $42,656 in monthly gross income at ~83% occupancy, delivering an attractive 8.76% cap rate. With five vacant suites ready for lease-up, investors can unlock an additional ~$11,000 in monthly gross income almost immediately, significantly boosting cash flow and value. Motivated seller is offering a rare low-equity entry structure, including a Vendor Take-Back bridge to support CMHC financing, an ideal acquisition for investors seeking strong leverage, scalable returns. Beyond the in-place income, the site offers significant future upside through a potential 18-unit expansion. Call us today to set up a showing!
Property Facts
| Price | $3,320,298 USD | Apartment Style | Low-Rise |
| Price Per Unit | $110,677 USD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.45 AC |
| Cap Rate | 8.76% | Building Size | 28,800 SF |
| No. Units | 30 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | ||
| Zoning | R3-A - Multi-Family Residential | ||
| Price | $3,320,298 USD |
| Price Per Unit | $110,677 USD |
| Sale Type | Investment |
| Cap Rate | 8.76% |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.45 AC |
| Building Size | 28,800 SF |
| No. Stories | 3 |
| Year Built | 1957 |
| Zoning | R3-A - Multi-Family Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Security System
- Smoke Free
- Fiber Optic Internet
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 30 | - | 617 |
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Midtown Apartments | 1260 Kingfisher Av S
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