11300 Pazarena Pl - Apartments FOR SALE


Maple Ridge, BC V2X 5P1
$18,400,000 CAD
604-640-5871
11300 Pazarena Pl, Maple Ridge, BC for Sale
$18,400,000 CAD
Apartments - FOR SALE
1/6
null | 4.87% Cap Rate

11300 Pazarena Pl
Maple Ridge, BC V2X 5P1


HIGHLIGHTS

  • Property qualifies for CMHC financing, offering a rare opportunity to acquire a high-quality, new mixed-use project with an attractive cap rate.
  • Reputable, well-recognized developer.
  • Fully stabilized asset with market-rate rents in place and a long-term daycare tenant.
  • Built to condo quality, featuring modern design elements, energy-efficient windows, with premium finishes and appliances.

OVERVIEW

On behalf of Polygon Crestwood Homes Ltd. (“Polygon”), Cushman & Wakefield ULC (“C&W”) is pleased to present to the investment market, a 100% freehold interest in Crestwood, located at 11300 Pazarena Place, Maple Ridge, collectively referred to as the “Property”. The Property is improved with 24 large rental units overtop an operating daycare at grade, situated adjacent to the Lougheed Highway and the Provenance Townhome Community. Crestwood features 18,491 square feet of residential net rentable area consisting of 24 units: 2 one-bedrooms, 8 one-bedrooms and dens, 6 two-bedrooms, 6 three-bedrooms, and 2 three-bedrooms and dens with an average unit size of 770 square feet. In addition, Crestwood includes a fully leased daycare facility comprised of 7,173 square feet of commercial net rentable area with a fenced outdoor space of 4,430 square feet. The Property is 100% occupied and was built in 2024 by Polygon, known for its meticulous construction and unwavering attention to detail.

FOR SALE DETAILS

PRICE

$18,400,000 CAD

PRICE/SF

$717 CAD /SF

# OF UNITS

24

PRICE/UNIT

$766,667

CAP RATE

4.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crestwood

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2024

PARKING SPACES

64

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,575 SF

ZONING

C-1

APN/PARCEL ID

030-627-788

ASK ABOUT THIS PROPERTY

David VenanceCushman & WakefieldMore Info
604-640-5871

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David VenanceCushman & WakefieldMore Info
604-640-5871

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