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Multifamily

1420 Estevan Road

1420 Estevan Road, Nanaimo, BC V9S 3Y4

Listing Price: $3,600,000

Cap Rate
4.96%
Number of Units
16
GRM
15.56
Price/Unit
$225,000
Price/Gross SF
$359.46
Gross SF
10,015

Investment Overview

A well maintained, 16 unit apartment building with a diverse suite mix, featuring a strong going-in cap rate and potential to increase rents upon turnover, located within the growing city of Nanaimo.

Investment Highlights

  • The property is well located in the growing city of Nanaimo, with close proximity to the ferry terminal, transit and Terminal Park Mall, which offers a variety of restaurants and retail options.
  • The units are individually metered with tenants paying their own electricity, and the vendor responsible for heat and hot water.
  • The building has a been well maintained with recent upgrades including a 3 year old high efficiency boiler.
  • With a strong going in cap rate, there's plenty of room to improve rents upon turnover with a strong unit mix including 3 x 2-bedrooms, 11 x 1-bedrooms, and 2 x bachelor units.

Exclusively Listed By

Multifamily

1420 Estevan Road

Listing Price: $3,600,000

Cap Rate
4.96%
Number of Units
16
GRM
15.56
Price/Unit
$225,000
Price/Gross SF
$359.46
Gross SF
10,015

Investment Highlights

  • The property is well located in the growing city of Nanaimo, with close proximity to the ferry terminal, transit and Terminal Park Mall, which offers a variety of restaurants and retail options.
  • The units are individually metered with tenants paying their own electricity, and the vendor responsible for heat and hot water.
  • The building has a been well maintained with recent upgrades including a 3 year old high efficiency boiler.
  • With a strong going in cap rate, there's plenty of room to improve rents upon turnover with a strong unit mix including 3 x 2-bedrooms, 11 x 1-bedrooms, and 2 x bachelor units.

Investment Overview

A well maintained, 16 unit apartment building with a diverse suite mix, featuring a strong going-in cap rate and potential to increase rents upon turnover, located within the growing city of Nanaimo.

Exclusively Listed By

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