Nadina Manor & Crest Manor

Sold

Dec 7

Written By Seth Baker

2035 Sullivan Way & 2221 Butler Ave, Houston

Sold for $2,457,000

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$2,457,000

Sale Price

54

Apartment Units

1970 / 1980

Year Built

11.55%

Cap Rate

DESCRIPTION

SOLD Nadina and Crest Manor in Houston, British Columbia

Nadina Manor contains 36 units including 1 bachelor, 16 one-bedroom and 19 two-bedroom suites. All units on the upper floors have been renovated in the past three years. Final six units on ground floor are currently under renovation. Renovations will be completed prior to your purchase closing.

Crest Manor contains 18 units including 10 one bedroom and 8 two bedroom suites. Units have been upgraded with attractive laminate flooring, paint and new window coverings. The building has new windows (2017), exterior paint (2017), balcony membranes (2017) and a brand new roof (2020).

All suites feature convenience in-suite storage and parking with electric plug-ins. Laundry is shared and provided free. Each unit has individual electric hot water tank. Electricity is individually metered and paid for by tenants.

Inquire today to find a similar high-income multifamily property.

SPECIFICATIONS

Property Type · Apartment Building
Price Per Unit · $46,293
Lot Size · 1.93 Acres (84,071 Sq Ft)
Building Size · 47,573 Sq Ft
Zoning · R4
Year Built · 1970 & 1980
Renovated · 2017-2020
Suite Mix · 1 x Bach, 23 x 1-Bedroom, 30 x 2-Bedroom
Parking · 55+ Surface Spaces with Plug-Ins

HIGHLIGHTS

Fully Renovated Interiors with Quality Materials
Separate Hot Water Tanks, Tenants Pay Utilities
100% Occupied, No Vacancy

LOCATION

Civic Addresses
2035 Sullivan Way Houston BC V0J 1Z1
2221 Butler Ave Houston BC V0J 1Z2

Legal Descriptions
LOT 8 DISTRICT LOT 333 RANGE 5 COAST DISTRICT PLAN 9697
PARCEL B (SEE DF 20041) BLOCK 41 DISTRICT LOT 622 RANGE 5 COAST DISTRICT PLAN 1005

PIDs
005-863-503, 005-972-175

FACTS ABOUT HOUSTON, BRITISH COLUMBIA

Population of 3,051 in 2020
28% of the population rent their primary residence
55.3% of dwellings were built between 1961 and 1980
Average household income of $106,854 in 2020

Median household income of $97,424 in 2020
Average household shelter spending of $1,180/month
One-bedroom apartments rent for $700 and up
Two-bedroom apartments rent for $850 and up

Northern BC

Seth Baker