Island Portfolio
Campbell River, Port Hardy, and Duncan
Sold for $55,810,000
9
Buildings
334
Total Units
11.11
Total Acres
250k
Rentable Sq Ft
1973
Avg Year Built
$167k
Price Per Unit
Description
The sale of this expansive portfolio, featuring 334 units across nine buildings, stands as a landmark achievement in multifamily real estate—a transaction defined by its sheer complexity and scale. Spanning 11.11 acres and offering approximately 249,585 square feet of rentable area, this was no ordinary sale. It required a level of strategic precision and planning that could only come from deeply-honed expertise. Add to this over an acre of developable land and long-term potential for rezoning across three prime locations, and the stakes could not have been higher.
What set this transaction apart was not just the size or value but the intense scrutiny it faced. Every plan I created—Capital Plan, Asset Management Plan, Cash Flow Analysis, and Development Plan—was dissected and evaluated by the buyer, institutional-level lenders, CMHC in Ottawa, and one of the largest public real estate institutions in British Columbia.
These were not just documents; they were blueprints for unlocking the portfolio’s potential. The Development Plan alone required bold yet realistic strategies for rezoning and densification, grounded in deep market knowledge. By the time these plans passed the final round of approvals, they had weathered a level of analysis most brokers never encounter, let alone navigate independently.
And yet, I did it alone. I represented my client as the sole broker, handling every facet of the deal—finding the property, valuation, negotiation, due diligence, and closing. The property’s age and history meant untangling layers of deferred maintenance, hidden opportunities, and untapped value. Coordinating across multiple geographies, legal frameworks, and stakeholder qualification stages required a level of focus and stamina that can only be described as all-encompassing. At every step, I worked to distill immense complexity into actionable insights my client, and other stakeholders, could trust.
What makes this transaction so remarkable is how the pieces fit together: the existing properties, their immediate upgrade potential, and the development land waiting to be unlocked. Imagine turning historical rental data into a forward-looking roadmap, or identifying rezoning opportunities that others overlooked. The ability to deliver such results—self-directed and independently—was not only a matter of skill but also vision. This wasn’t just a sale; it was a transformation of how the portfolio’s value was understood and positioned.
Even now, the intricacies of this transaction remain a testament to what is possible by an educated, creative professional in the realm of multifamily real estate. Orchestrating such a monumental deal required more than expertise; it demanded an unrelenting focus, the ability to anticipate challenges before they arose, and the confidence to present a vision that could withstand the highest levels of scrutiny. The negotiations, the plans, the coordination—each step quietly built toward an outcome that redefined the rental housing market in Campbell River, Port Hardy, and Duncan.
This was more than a typical transaction; it was a demonstration of what can be achieved when every detail aligns with a purpose, leaving behind a sense of possibility that lingers long after the ink has dried.
Suite Mix
Specifications
Units · 334 Apartment and Townhome Units
Built · 1966 - 1979 (average year built 1973)
Lot Size · 11.11 acres (484,080 sq ft)
Rentable Area · 249,585 sq ft (approximately)
Parking · 360+ Surface Parking Spaces
Amenities
Centrally located for tenant convenience, with easy access to shopping, dining, and community services.Many buildings situated near public transit hubs, providing excellent connectivity for residents.
Four buildings equipped with elevators, enhancing accessibility for all tenants.
Extensive surface parking available, ensuring ample space for all residents and their guests.
Recent Upgrades
Hundreds of in-suite renovations, featuring modernized kitchens, bathrooms, and flooring.
Significant exterior improvements, including window replacements, fresh exterior paint, roof replacements, and other enhancements to ensure long-term durability and aesthetic appeal.
Extensive mechanical upgrades including HVAC, water system, and electric.
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