Rivers Edge Apartments - Revelstoke, BC $ 6,395,000
1211 Front Street, Revelstoke, BC

Rivers Edge Apartments - Revelstoke, BC $6,395,000.

1211 Front Street, Revelstoke, BC


Property Description

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

  • Nearly fully leased 44 unit, 3 storey, single apartment block building on 0.76 acres
  • Can be acquired with one other multi-family property as part of an assembly
  • Fantastic location overlooking the river, set amongst a beautiful mountainous backdrop in Revelstoke, BC
  • Elevator serviced wood frame building with 68 underground parking stalls
  • Buildings feature significant renovations and upgrades
  • Diversification offered from multiple tenancies
  • Suite mix of 2 x studios, 31 x 1 BR, 9 x 2 BR and 2 x 3 BR units
  • Great opportunity to capitalize on critically low vacancy, with the vacancy rate in Revelstoke currently sitting at 0.4%

List Price:                                                   $6,395,000
Price/Door:                                                    $145,341
Cap Rate on 2016 Net Income:                           6.1%
Cap Rate on 2017 Proj’d Net Income:                 7.1%

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 Address1211 Front Street, Revelstoke, BC
Legal DescriptionParcel B (Sec L6349) of Plan 9504, Block 5, Section 34, Township 23, Range 2, KLD
PID010-421-084
LocationWell located in Revelstoke, just a short distance from the Downtown Core, overlooking the river with fantastic views.
Building Area33,639 SF
Land Area0.76 acres
Parking68 underground parking stalls
ZoningR-4, High Density Residential
Taxes$25,004 (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

2700 Richter St. Kelowna, BC V1Y 2R5