490 7th Av - Apartments FOR SALE


Kamloops, BC V2C 3T2
$3,499,000 CAD
250-319-4912

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$3,499,000 CAD
Apartments - FOR SALE

490 7th Av
Kamloops, BC V2C 3T2


HIGHLIGHTS

  • Comprehensive renovations completed in 2022–2023, including kitchens, bathrooms, and in-suite laundry.
  • Concrete floor construction enhances fire safety and minimizes noise transfer between units.
  • Tenants are individually metered and pay their own utilities, reducing operating costs.
  • Secure building with new tenant storage lockers and updated electrical systems.
  • Convenient location in South Kamloops near downtown services, shopping, and transit.
  • Includes 18 parking spaces with carport and street options.

OVERVIEW

This rare multi-family investment opportunity in South Kamloops features a well-maintained apartment building with 14 spacious one-bedroom units. The property has undergone extensive upgrades in 2022 and 2023, ensuring modern functionality and reduced capital expenditure for new ownership. Enhancements include a new torch-on roof, in-suite laundry in every unit, fully renovated bathrooms, and updated kitchens in 11 of 14 units. Additional improvements include high-efficiency windows and sliding doors, new hot water tanks, stainless steel appliances in 90% of units, new flooring with durable ceramic tile, and upgraded electrical panels. The building’s concrete construction between floors provides superior fire separation and sound insulation, complemented by concrete balconies for added durability. Tenants pay their own utilities, with electric baseboard heating and individual hot water tanks in each suite. The property also offers new tenant storage lockers, secure entry, and 18 parking spaces via carport and street parking. Located in a desirable South Kamloops neighborhood, the property benefits from proximity to downtown amenities, retail, and transit. This asset offers stable income potential and long-term value in a growing market. Financial information is available to qualified buyers.

FOR SALE DETAILS

PRICE

$3,499,000 CAD

# OF UNITS

14

PRICE/UNIT

$249,929

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

-

APN/PARCEL ID

007-120-061

ASK ABOUT THIS PROPERTY

Ross SpinaRe/Max Real Estate KamloopsMore Info
250-319-4912

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Ross SpinaRe/Max Real Estate KamloopsMore Info
250-319-4912

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