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Multifamily

Silvercrest Suites

154 Vernon Avenue, Kamloops, BC V2B 1L6

Listing Price: $12,750,000

Cap Rate
3.94%
Number of Units
53
Price/Unit
$240,566
Price/Gross SF
$530.52
Gross SF
24,033

Investment Overview

The McEvay | Blair Multifamily Group and Marcus & Millichap are pleased to present investors with the exclusive opportunity to purchase 100% freehold interest in Silvercrest Suites, a 53 unit, strata-titled rental apartment building located on Kamloops’ North Shore. The newly built (2014) 5-storey multifamily asset constructed by a local, reputable developer is designated for tenants age 55 and over; which is a severely under-served demographic in Kamloops. High demand for the well-appointed units in Silvercrest Suites outweighs the supply, resulting in substantial rental rates, historically high increases on turnover, and secure cash flow. The asset is strategically located directly across the street from Northills Shopping Centre, an amenity-rich complex with grocery, banks, restaurants, services, and public transit, a mere steps from the front door of Silvercrest.

Investment Highlights

  • Strata-titled units provide flexibility for the investment in the future
  • Excellent in-place rents – averaging $2.36 per square foot and increasing to over $3 per square foot on turnover
  • Designated for age 55+ and newly built (2014) by a reputable, local developer and builder

Exclusively Listed By

Multifamily

Silvercrest Suites

Listing Price: $12,750,000

Cap Rate
3.94%
Number of Units
53
Price/Unit
$240,566
Price/Gross SF
$530.52
Gross SF
24,033

Investment Highlights

  • Strata-titled units provide flexibility for the investment in the future
  • Excellent in-place rents – averaging $2.36 per square foot and increasing to over $3 per square foot on turnover
  • Designated for age 55+ and newly built (2014) by a reputable, local developer and builder

Investment Overview

The McEvay | Blair Multifamily Group and Marcus & Millichap are pleased to present investors with the exclusive opportunity to purchase 100% freehold interest in Silvercrest Suites, a 53 unit, strata-titled rental apartment building located on Kamloops’ North Shore. The newly built (2014) 5-storey multifamily asset constructed by a local, reputable developer is designated for tenants age 55 and over; which is a severely under-served demographic in Kamloops. High demand for the well-appointed units in Silvercrest Suites outweighs the supply, resulting in substantial rental rates, historically high increases on turnover, and secure cash flow. The asset is strategically located directly across the street from Northills Shopping Centre, an amenity-rich complex with grocery, banks, restaurants, services, and public transit, a mere steps from the front door of Silvercrest.

Exclusively Listed By

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