375 Cherry Ave, Kamloops

Sold for $2,675,000

$2,675,000

Sale Price

23

Condo Units

2010

Year Built

5.25%

Cap Rate

DESCRIPTION

Sold Golden Vista Suites, 375 Cherry Ave, Kamloops for $2,675,000.

Golden Vista Suites is a multifamily building with newly constructed seniors rental units.  The sale included 23 strata-title units out of the total 46 units in the building.

At time of sale, occupancy was 100%. There was no history of vacancy since construction in 2010.  Location is perfect for seniors: all amenities are a close walk.  Building has a modern elevator. Units have electric baseboard heat and individual air conditioning units.

Golden Vista Suites benefits from strong rental numbers, a growing seniors population in Kamloops, excellent location on the north shore and exceptional build quality.

Property sold for 97% of asking price!!

SPECIFICATIONS

Property Type · Apartment Building
Price Per Unit · $116,304
Lot Size · 33,396 Sq Ft (0.91 Acres)
Rentable Area · 9,154 Sq Ft
Elevator · One Elevator in the Building
Parking · 20 Surface Parking Spaces

HIGHLIGHTS

• Brand New Purpose-Built Rental Apartment for Seniors

• Excellent Location with Convenient Amenities

• Air Conditioning and Elevator in the Building

LOCATION

375 Cherry Avenue
Kamloops, BC V8J 2V8

Legal Description
Multiple Strata Lots in Plan KAS3777 District Lot 255 Land District 2 Land District 25 & OF DL D GROUP 2 TOGETHER WITH AN INTEREST IN THE COMMON PROPERTY IN PROPORTION TO THE UNIT ENTITLEMENT OF THE STRATA LOT AS SHOWN ON FORM V

PID
Strata Titled