11608 10 St, Dawson Creek

Sold for $1,900,000

SPECIFICATIONS

Property Type · Apartment Building
Sale Price · $1,900,000
Price Per Unit · $76,000
Number of Units · 25
Unit Mix · 13 x Bachelor, 12 x 1-Bathroom
Year Built · 1979
Zoning · RM-1
Parking · 30+ Paved Parking Spaces
Rentable Sq Ft · 16,500 Sq Ft
Lot Size · 27,007 Sq Ft (0.62 Acres)

DESCRIPTION

Sold for $1,900,000. This was a once-in-a-generation opportunity to acquire Northern Lights Apartments in Dawson Creek, British Columbia.  Rarely do buildings like this come up for sale.  This property is on the market for the first time in 30 years!

Northern Lights Apartments was been professionally managed and well cared for over the past three decades.  Units and common areas were kept clean and tidy.  Tenants enjoy amenities such as storage lockers, block heater plugs, a shared laundry room and generous outdoor space. A live-in manager makes this property easy to take care of from abroad.

Unit mix includes bachelor and one-bedroom suites that are popular with students and local workers.  The building has an excellent reputation with many of the tenants staying for years and years.  A live-in manager creates peace of mind for out-of-town owners. The manager is experienced with all kinds of maintenance and repairs.  As a result, this is a worry-free and turnkey building.

Dawson Creek is seeing huge economic benefit from the energy sector, especially the emergent natural gas market. Northern Lights College campus is just one block away from the property creating a strong base of tenants.

Northern Lights Apartments will provide many decades of continued cash flow to its future owners.

LOCATION

Civic Addresses
11608 10 St, Dawson Creek, BC, V1G 3V3

Legal Description
Lot 8, 9 & 10 Plan PGP9144 Section 10 Township 78 Range 15 Meridian Land District 44

PIDs
012-888-699, 012-888-702, 012-888-711

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