Multifamily
1420 Estevan Road
1420 Estevan Road, Nanaimo, BC V9S 3Y4
Listing Price: $3,200,000
Cap Rate
5.58%
Number of Units
16
GRM
13.83
Price/Unit
$200,000
Price/Gross SF
$319.52
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.
1420 Estevan Road
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
Listing Price: $3,200,000
Cap Rate
5.58%
Number of Units
16
GRM
13.83
Price/Unit
$200,000
Price/Gross SF
$319.52
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
