Multifamily
5601 Lakeshore Dr
5601 Lakeshore Dr, Osoyoos, BC V0H 1V6
Listing Price: $8,500,000
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap presents the rare opportunity to purchase Brightwater Apartments, a brand-new apartment building that has completed construction in the South Okanagan city of Osoyoos. Brightwater Apartments is being offered with a strong going-in return and a CMHC financing application is currently in-queue for $7.6M. Brightwater Apartments is the first dedicated purpose-built rental building constructed in Osoyoos in 20 years.
Brightwater Apartments consists of 24 high quality apartment suites with 23 2-bedroom/1 bathroom suites and 1 one bedroom/1 bathroom suite, all featuring a spacious balcony or patio, many with terrific views of Osoyoos Lake. There is elevator service for the building, 39 surface parking stalls and each suite features its own secured storage room off the balcony or patio.
The suites all feature open floor plan layouts that are bright, spacious and well appointed including luxury vinyl plan flooring, in-suite washers and dryers, and a full appliance package in the kitchens including dishwashers and over-the-range microwaves. Each suite has its own heat pump and condenser for heating and cooling with each suite individually metered for hydro with tenants responsible for this utility. Domestic hot water is provided to the tenants through gas-fired hot water tanks.
The Property has completed construction and is now commencing lease-up with the developer’s in-house management team. Brightwater Apartments has been built to BC Step Code 3 allowing for the financing to be assumed with a 50-year amortization. A full dataroom is available upon execution of our CA.
5601 Lakeshore Dr
Investment Highlights
- High quality new-build construction built to BC Step Code 3. Features include energy efficient vinyl and cedar siding and in-suite electric heat pumps and condensers for heating and cooling.
- The Developer has a CMHC financing application in-queue with a requested loan amount of $7.6M, minimum 5 year term, 50-year amortization, and a 3.75% ceiling rate.
- Apartment buildings are rarely offered for sale in the South Okanagan and a new building offers an even rarer opportunity to capitalize on the strong demand for purpose-built accommodation in Osoyoos.
- All suites feature well-appointed kitchens with full appliance packages, in-suite washers, and dryers, and luxurious vinyl plank flooring. Storage rooms are located off the balcony or patio with many suites featuring views of Osoyoos Lake. Elevator service and 39 surface stalls are available to tenants.
Exclusively Listed By
Listing Price: $8,500,000
Investment Highlights
- High quality new-build construction built to BC Step Code 3. Features include energy efficient vinyl and cedar siding and in-suite electric heat pumps and condensers for heating and cooling.
- The Developer has a CMHC financing application in-queue with a requested loan amount of $7.6M, minimum 5 year term, 50-year amortization, and a 3.75% ceiling rate.
- Apartment buildings are rarely offered for sale in the South Okanagan and a new building offers an even rarer opportunity to capitalize on the strong demand for purpose-built accommodation in Osoyoos.
- All suites feature well-appointed kitchens with full appliance packages, in-suite washers, and dryers, and luxurious vinyl plank flooring. Storage rooms are located off the balcony or patio with many suites featuring views of Osoyoos Lake. Elevator service and 39 surface stalls are available to tenants.
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap presents the rare opportunity to purchase Brightwater Apartments, a brand-new apartment building that has completed construction in the South Okanagan city of Osoyoos. Brightwater Apartments is being offered with a strong going-in return and a CMHC financing application is currently in-queue for $7.6M. Brightwater Apartments is the first dedicated purpose-built rental building constructed in Osoyoos in 20 years. Brightwater Apartments consists of 24 high quality apartment suites with 23 2-bedroom/1 bathroom suites and 1 one bedroom/1 bathroom suite, all featuring a spacious balcony or patio, many with terrific views of Osoyoos Lake. There is elevator service for the building, 39 surface parking stalls and each suite features its own secured storage room off the balcony or patio. The suites all feature open floor plan layouts that are bright, spacious and well appointed including luxury vinyl plan flooring, in-suite washers and dryers, and a full appliance package in the kitchens including dishwashers and over-the-range microwaves. Each suite has its own heat pump and condenser for heating and cooling with each suite individually metered for hydro with tenants responsible for this utility. Domestic hot water is provided to the tenants through gas-fired hot water tanks. The Property has completed construction and is now commencing lease-up with the developer’s in-house management team. Brightwater Apartments has been built to BC Step Code 3 allowing for the financing to be assumed with a 50-year amortization. A full dataroom is available upon execution of our CA.
Exclusively Listed By
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