Sold for $496,500

$496,500

Sale Price

12

Total Units

1980

Year Built

9.15%

Cap Rate

DESCRIPTION

Sold 4 Crysdale Dr, Mackenzie for $486,500.

This small northern apartment building was a value-add investment in bustling Mackenzie, BC. At the time of sale, the building was in need of renovations and new management.

The building had a suite mix of 6 x 3-bedrooms, 5 x 2-bedrooms and 1 x 1-bedroom.

Recent improvements included hot water pump replacement (2016), municipal water main replacement (2013), fire alarm system upgrade (2004) and torch-on membrane roof (1999).

At time of sale, rents in town were excellent. Three bedrooms rent for $1,100+ per month. Two bedrooms rent for $850 – 1,000 per month. One bedrooms rent for $600 – 800 per month.

If Multifamily Real Estate Services can sell a building way up in Mackenzie, imagine what we can do in our own home town of Vancouver.

SPECIFICATIONS

Property Type · Apartment Building
Price Per Unit · $41,375
Lot Size · 24,394 Sq Ft
Parking · 20 Surface Parking Spaces

HIGHLIGHTS

• Renovate and Increase Rents

• Opportunity to Re-position the Building and Profit from Growth

• Some Mechanical Upgrades Completed

LOCATION

4 Crysdale Drive
Mackenzie, BC V0J 2C0

Legal Description
Lot 1 Plan PGP17103 District Lot 12463 Land District 05

PID
011-186-097

Assessed Value (2019)
$501,700