Ambassador Apartments
10023 97 Avenue, Fort St John
Sold for $2,955,000
Total Units
36
Year Built
1984
Zoning
RM-2
Lot Size
38,250
Price Per Unit
$83,333
Cap Rate
7.40%
Cash flow apartment building for sale in the fast-growing northern city of Fort St John. Eighty percent of units are large two-bedroom suites, the most popular unit-type in town. As a result, this building has low vacancy and stays full consistently. Building lobby, hallways, and 15 units have been renovated. Hot water boilers replaced in 2016. A new roof is needed soon, but is accounted for in the list price. Roof report available. Clean ESA Phase 1 available. Building appraised over asking price.
Professional property management is in place, so you can operate this investment from anywhere in the world. Cap rate of 7.00%. Five year yield of 29%.
Building Specifications
Suite Mix
Civic Address · 10023 97 Avenue, Fort St John, BC, V1J 5P3
Legal Description · Lots 17-21 Plan PGP4746 Section 36 Township 83 Range 19 Meridian Land District 44, PIDs 013-639-234, 013-639-242, 013-639-251, 013-639-277, 013-639-285
Construction · Wood Frame on Concrete Slab, Aluminum Siding, Aluminum-Frame Windows
Mechanical · Natural Gas Boilers, Natural Gas Hot Water Tanks, Hot Water Baseboard Heat, 200 Amp Main Panel, and 100% Copper Wiring (no pigtails)
Mechanical Improvements · Boilers replaced (2015), Complete Renovation of Hallways and Lobby (2016), Hot Water Glycol Feeder Replaced (2017), New Washer & Dryer (2020/21)
Insuite Improvements · Renovated 14 units in the past three years with flooring, window coverings, paint, new doors, appliances and fixtures as needed.
Appliances · Fridge, Stove, Hood Fan, Shared Laundry
Rentable Area · Approximately 28,900 sq ft
Lot Size · 38,250 sq ft (0.88 Acres)
Location
Contact
Contact the listing agent below to learn more.