1475 Bertram St - Apartments FOR SALE


Kelowna, BC V1Y 2G3
$6,100,000 CAD
250-861-8103
1475 Bertram St, Kelowna, BC for Sale
$6,100,000 CAD
Apartments - FOR SALE
1/1
null | Request Cap Rate

1475 Bertram St
Kelowna, BC V1Y 2G3


OVERVIEW

Great opportunity to purchase a fully leased apartment building in downtown Kelowna that has been upkept and well maintained over the years. Original owners who have updated 19 of the 25 units with newer bathrooms and/ or kitchens, new laminate flooring, refreshed carpets and cabinets. Windows replaced in 2010, elevator updated in 2011, roof replaced in 2015 with improved insulation and the intercom system updated and replaced in 2016. All rents are below market value, strong upside as unit's turnover and long-term potential for redevelopment. The property is Zoned UC1 (Downtown Urban Centre) allowing for high-Density Mixed-Use Buildings. Plenty of redevelopment options in future with cash flow in place making this a great long-term investment.

FOR SALE DETAILS

PRICE

$6,100,000 CAD

PRICE/SF

$217 CAD /SF

# OF UNITS

25

PRICE/UNIT

$244,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1981

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

UC1

APN/PARCEL ID

011-151-137

ASK ABOUT THIS PROPERTY

Jack ShabbitsColliersMore Info
250-861-8103

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Jack ShabbitsColliersMore Info
250-861-8103

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