752 & 772 Stuart Ave, Fort St James

Sold for $1,375,000

$1,375,000

Sale Price

25

Total Units

1973

Year Built

11.48%

Cap Rate

DESCRIPTION

Sold two side-by-side apartment buildings at 752 & 772 Stuart Ave, Fort St James.

Cash-flow is king at this high-revenue lake-front opportunity in the northern British Columbia community of Fort St James. Earn a staggering 11.48% cap rate on actual fiscal year income at the time of sale. Pending rental price increase boost returns even higher.

These buildings feature fantastic lakeside location and views from all west-facing suites. Stable tenants and fast- moving local economy epitomize this investment.

Birch Villa at 772 W Stuart Drive is an 11-suite gem built in 1973. All units are one-bedrooms.

Lakeview Apartments at 752 W Stuart Drive is the neighbouring 14-suite building constructed in 1972. It contains one bachelor unit and the remainder are two-bedroom units.

Fort St James enjoys a booming economy and strong economic projections. Vacancy rate is close to zero. Actual building vacancy over the past 12 months is just 0.67%. Yes, you read that correctly: less than 1% vacancy! Act fast!!

SPECIFICATIONS

Property Type · Apartment Building
Price Per Unit · $55,000
Lot Size · 38,899 Sq Ft
Parking · 40 Surface Parking Spaces

HIGHLIGHTS

• Lake Views from All Units

• Two of the Best Buildings in Fort St James

• Well-Maintained and Updated Over the Years

• Unbelievable Cash Flow with Room to Grow

LOCATION

Lakeview Apartments
752 Stuart Ave West
Fort St James, BC V0J 1P0

Birch Villa
772 Stuart Ave West
Fort St James, BC V0J 1P0