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52-Unit Apartment Portfolio 2 Properties in Multiple Locations
Investment Highlights
- Two-building apartment portfolio totaling 52 residential suites.
- Diverse mix of studio, one-bedroom, and two-bedroom units.
- In-place rents reported below registered rental levels.
- Located in Winnipeg's West End near Downtown Winnipeg.
- Historical buildings with architectural character and capital reinvestment.
Executive Summary
The portfolio consists of two apartment properties located at 724 Wellington Avenue and 435 Spence Street in Winnipeg, Manitoba. The assets contain a total of 52 residential suites and a combined site area of 23,374 square feet. The buildings were constructed in 1912 and 1929 and are zoned R2-Res-Two Family. The portfolio includes 8 studio units, 34 one-bedroom units, and 10 two-bedroom units. The properties are located within Winnipeg's West End area near Downtown Winnipeg and the University of Winnipeg. Opportunity to significantly enhance levered cash-flow through the assumption of in-place debt at strong loan-to-value levels and below market interest rates.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 28,591 SF |
| Number of Properties | 2 | Total Land Area | 0.28 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 28,591 SF |
| Total Land Area | 0.28 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Franklin Apartments
435 Spence St, Winnipeg, MB R3B 2 |
Multifamily | 19,506 SF | 1929 | - |
| 724 Wellington Ave, Wilmington, NC 28401 | Specialty | 9,085 SF | 1999 | - |
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Contacts
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Bryn Oliver -
Trevor Clay -
Luke Paulsen -
Capital Commercial Real Estate Services Inc.
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