451 Flamingo St, Quesnel

Sold for $1,075,000

$1,075,000

Sale Price

24

Apartment Units

1979

Year Built

9.07%

Cap Rate

DESCRIPTION

Sold apartment building at 451 Flamingo St, Quesnel.  

Strong cash flow and low risk from this 24-suite building. At-market rents, excellent tenant mix and low- maintenance.

At time of sale, building was 100% occupied. Quesnel housing market was stable. Property featured individual hot water tanks, electric baseboard heat, no elevator, and roof replaced in 2004.

Live-in manager in the building makes for easy out-of-town management. Opportunity for the savvy lower mainland investor to generate exceptional returns.

•  Strong Cash-Flow Property with 9.00%++ Cap Rate

• Stable Housing Market in Quesnel; Population: 24,000

• Drivable from Lower Mainland or Fly Via Prince George

• Live-In Manager Available for Easy Management

• 100% Occupied, Virtually No History of Vacancy

• Roof Replaced in 2004

SPECIFICATIONS

Property Type · Apartment Building
Price Per Unit · $44.792
Lot Size · 53,142 Sq Ft
Rentable Area · ~16,000 Sq Ft
Storeys · 3
Parking · 30 Surface Parking Spaces

LOCATION

451 Flamingo Street
Quesnel BC V2J 5B1

Legal Description
Lot 168 Plan PGP22680 District Lot 1227 Land District 05

PID
008-794-367

Assessed Value (2019)
$1,284,000