Rivers Edge Apartments - Revelstoke, BC

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: $5,850,000
Price/Door: $132,955
Theorized Renovation Budget: $300,000
Cap Rate on 2017 Proj’d Net Income: 8.28%

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.

Municipal Address	1211 Front Street, Revelstoke, BC
Legal Description	Parcel B (Sec L6349) of Plan 9504, Block 5, Section 34, Township 23, Range 2, KLD
PID	010-421-084
Location	Well located in Revelstoke, just a short distance from the Downtown Core, overlooking the river with fantastic views.
Building Area	33,639 SF
Land Area	0.76 acres
Parking	68 underground parking stalls
Zoning	R-4, High Density Residential
Taxes	$22,676 (2017)

PDFs

Schedule A Non-Disclosure Agreement

Property Map

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.