1909 Ash St, Creston

Sold for $2,500,000

$2,500,000

Sale Price

35

Apartment Units

1980 / 2019

Year Built / Renovated

$71,428

Price Per Unit

DESCRIPTION

The Bungalow is a charming seniors home sold in the beautiful setting of Creston, British Columbia. It’s storied history, rock-solid construction, and stunning renovations make this a rare and profitable venture.

The building was purpose-built as a seniors facility by the Province of British Columbia in 1980. It was “overbuilt” in the best sense of the word, with a level of construction quality rarely seen at the time.

Due to politics, the facility was shuttered in 2005, sat dormant, was finally purchased in 2015. Renovations began. The empty building was sold privately in 2017. Renovations were completed to the highest level of quality. The Bungalow is now one of the finest seniors facilities anywhere in the Kootenay region.

Amenities for the residents are extensive. The commercial kitchen is staffed by a Red Seal chef providing sumptuous meals every evening. Cozy seating areas, multiple lounges, and a grand dining hall filled with natural light give residents abundant area to socialize. A fitness space, physical therapy room and alfresco walking paths keep people moving and healthy. A covered gazebo and water feature give residents place to enjoy the clean Kootenay air and bask in the stunning scenery.

Creston is booming with seniors. Vacancy is low and waitlists are the norm. Take advantage of this rare opportunity to acquire a well-built and renovated facility in a growing market with a large seniors population.

Building was sold for 96% of asking price.

SPECIFICATIONS

Property Type · Seniors Independent Living
Sale Price Per Unit · $71,428
Lot Size · 1.81 Acres
Zoning · P1
Year Built · 1980
Year Renovated · 2019
Suite Mix · 17 x 1-Bedroom, 18 x Studio
Parking · 40 Surface Spaces

HIGHLIGHTS

• Grand Dining Hall, Separate Entertainment Lounge

• Commercial-Grade Kitchen & Laundry Facilities

• In-House Chef Provides Sumptuous Dinners

• Fitness Centre and Physiotherapy Room

• Outdoor Walking Paths and Water Features

• Purpose-Built with 100% Handicap Accessibility

Creston, British Columbia

Quick Facts

8,912 - Population in 2020
9,210 - Population projected by 2025
56.1 - Median age (note: median age is rising)
44.2% - Percent of population over age 60
27% - Percent of households that rent vs own
$67,495 - Average household income

Travel Distances

Cranbrook 105km (1h 10min)
Spokane 222km (2h 30min)
Lethbridge 409km (4h 30min)
Kelowna 423km (4h 50min)
Calgary 490km (5h 30min)
Vancouver 756km (8h 20min)