Columbia Gardens Apartment Complex - Revelstoke, BC $ 11,795,000
1949 Laforme Boulevard, Revelstoke, BC

Columbia Gardens Apartment Complex - Revelstoke, BC $11,795,000.

1949 Laforme Boulevard, Revelstoke, BC


Property Description

HM Commercial Group is pleased to present this valuable opportunity to acquire an income producing multi-family complex in Revelstoke, BC. Columbia Gardens offers significant benefits, including:

  • Nearly fully leased 73 unit, 4 building, multi-family complex on 1.60 acres
  • Can be acquired with one other multi-family property as part of an assembly
  • Fantastic location set amongst a beautiful mountainous backdrop in Revelstoke, BC
  • Abundant surface parking with 101 underground stalls
  • Buildings feature significant renovations and upgrades
  • Diversification offered from multiple tenancies
  • Suite mix of 31 x 1 BR, 6 x 2 BR and 8 x 2 BR plus den units
  • Great opportunity to capitalize on critically low vacancy, with the vacancy rate in Revelstoke currently sitting at 0.4%

List Price:                                                  $11,795,000
Price/Door:                                                    $161,575
Cap Rate on 2016 Net Income:                           6.7%
Cap Rate on 2017 Proj’d Net Income:                 7.5%

The property is offered via conduct of sale through the 2nd mortgage holder.  All offers must be accompanied by a Schedule A, and are subject to court approval once a Buyer has removed its conditions. The property is offered for sale on an as is where is basis.

Additional Information

Municipal Address1949 Laforme Boulevard, Revelstoke, BC
Legal DescriptionLot A, Plan 11611, Section 33, Township 23, Range 2, KLD
PID007-949-481
LocationWell located in Revelstoke, just a few kms from the Downtown Core, and a few blocks from Highway 1 and the Revelstoke Golf Course.
Building Area65,028 SF
Land Area1.60 acres
Parking101 underground parking stalls
ZoningR-4, High Density Residential
Taxes$43,055 (2016)

Property Map


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E. & O. Insurance The information contained herein is assumed to be correct but is not guaranteed by the Listing Agent or Publisher and should be verified.

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Direct: 250.712.3130
Fax: 250.860.1600
info@hmcommercial.com

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