7205 Pine Dr - Apartments FOR SALE


Port Hardy, BC V0N 2P0
$4,300,000 CAD
778-998-4663
7205 Pine Dr, Port Hardy, BC for Sale
$4,300,000 CAD
Apartments - FOR SALE
1/22
null | 8.29% Cap Rate

7205 Pine Dr
Port Hardy, BC V0N 2P0


HIGHLIGHTS

  • Substantially Capital Improvements
  • Close to Town Centre
  • 4 Buildings on 2.92 Acres

OVERVIEW

Town Park Apartments presents an exceptional investment opportunity featuring a four-building, 71-unit complex offered at an unheard-of value of $60,000 per unit. Situated in the northern island community of Port Hardy, the property spans 2.92 acres and enjoys proximity to various amenities, transportation links, and a diverse selection of community resources. Comprising a suite mix of 20 Bachelor, 35 One-Bedroom, and 16 Two-Bedroom units, each boasting generous floor plans, the complex has recently undergone substantial capital improvements exceeding $1.6 million. Enhancements include a new FOB system, upgraded fire panel, enhanced security infrastructure including cameras and lighting, renewed common area carpets, exterior painting, and a significant majority of unit renovations. Coupled with escalating rental rates, a robust local economy, and limited rental inventory, the property promises investors a stable cash flow stream and potential revenue growth on tenant turnover.

FOR SALE DETAILS

PRICE

$4,300,000 CAD

PRICE/SF

$34 CAD /SF

# OF UNITS

71

PRICE/UNIT

$60,563

CAP RATE

8.29%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.94 AC

LAND SF

128,280 SF

ZONING

RM-1

APN/PARCEL ID

002-999-307

ASK ABOUT THIS PROPERTY

Chris HayneRoyal LePage City CentreMore Info
778-998-4663

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Chris HayneRoyal LePage City CentreMore Info
778-998-4663

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.