Woodside Estates

5206 43 St NE, Chetwynd

Sold for $2,700,000

$2,700,000

Sale Price

27

Total Units

1979

Year Built

10.5%

Cap Rate

DESCRIPTION

Sold Woodside Estates at 5206 43 St NE, Chetwynd, BC for $2,700,000.

All 27 units are large 3 bedroom townhouses.  Buildings were built in 1979 and fully renovated in 1994.  All units have 1 full bathroom, 1 half bathroom, 2 parking stalls and in-suite washer/dryer. Tenants pay for their own heat and power.

Recent updates include new furnaces in 2015, brand new roofs in 2017 and refresh of unit interiors.

Each townhome building is on it’s own strata-titled lot. At the time of sale, market rents averaged $1,115 per unit per month. Strong cash flow and market fundamentals made this a solid investment.

SPECIFICATIONS

Property Type · Townhome Complex
Price Per Unit · $100,000
Lot Size · 2.72 Acres
Suite Mix · 27 x 3-Bedroom Townhomes
Title · Six Strata Titles
Parking · 54 Surface Parking Spaces

LOCATION

5206-5216 43rd Street NE
Chetwynd BC V0J 1C0

Legal Description
Strata Lot 1, 2, 3, 4, 5 & 6 Plan PGS177 District Lot 482 Land District 44 TOGETHER WITH AN INTEREST IN THE COMMON PROPERTY IN PROPORTION TO THE UNIT ENTITLEMENT OF THE STRATA LOT AS SHOWN ON FORM 1

 

ABOUT THE DEAL

HOW WE DID IT

We were able to co-list with an excellent agent based in Chetwynd. He had a strong local network. Multifamily Real Estate Services has the largest multifamily database in the province. Combined, we were able to generate significant market activity which resulted in a successful sale.

WHAT WE LEARNED

The ability to work with other agents is a competitive advantage. As an independent brokerage, Multifamily Real Estate Services collaborates with other agents in creative ways. On this deal, the request to work with another agent came from the client. It went exceptionally well and we provided what the client wanted - double exposure.