4526 Park Ave, Terrace

Sold for $2,900,000

$2,900,000

Sale Price

20

Apartment Units

2016

Year Renovated

$145,000

Price Per Unit

DESCRIPTION

Park Manor Apartments is a fully-renovated building for sale in Terrace, a city that CBC News called  ‘crazy busy’. Construction on the $40 billion LNG Canada project is well underway. As home to the Northwest Regional Airport, Terrace is transforming into a significant hub for the burgeoning natural gas industry in British Columbia.

Park Manor was overhauled in 2015/2016, replete with all the modern touches. Exterior upgrades include new roof, windows, siding and flashing. Mechanical updates include two new boilers, partial re-piping of the building, and a new hot water tank ready for installation when needed.

A brand new roof installation was completed in May 2021. And the suites are currently being outfitted with individual HVAC units for heating and cooling.  As a result, natural gas expenses will drop by more than 40%!!

Interior upgrades include all common area flooring, baseboards, paint, mail room, and new lighting. In-suite kitchens and bathrooms were renovated with high-end touches like tile bathtub surrounds, solid wood cabinetry, and stylish laminate countertops. Living spaces were upgraded to vinyl plank and carpet flooring with new doors and lighting throughout. A new emergency lighting system and high-end camera security system were installed to make sure your investment is safe.

Park Manor is an opportunity to capitalize on unprecedented growth in this ‘crazy busy’ city. 

SPECIFICATIONS

Property Type · Apartment Building
Property SubType · 3-Storey Walk-Up
Price Per Unit · $145,000
Lot Size · 0.38 Acres (16,500 Sq Ft)
Rentable Sq Ft · 15,500 Sq Ft (Approx)
Zoning · R4
Year Built · 1963
Year Renovated · 2016 w/ Further Upgrades in 2021
Suite Mix · 5 x 1-Bedroom, 15 x 2-Bedroom
Parking · 28 Surface Spaces

HIGHLIGHTS

• Located 10 minutes from the Regional Airport

• Fully Renovated: Exterior, Interior & Mechanical

• Zero Vacancy and Rapidly Rising Rents

LOCATION

Civic Addresses
4526 Park Ave
Terrace, BC, V8G 1V1

Legal Descriptions
PARCEL A (SEE TF394) BLOCK B DISTRICT LOT 369 RANGE 5 COAST DISTRICT PLAN 972

PIDs
017-624-649