9091 Mary St - Apartments FOR SALE


Chilliwack, BC V2P 4J2
$2,500,000 CAD
236-804-1037
9091 Mary St, Chilliwack, BC for Sale
$2,500,000 CAD
Apartments - FOR SALE
1/6
null | 4.32% Cap Rate

9091 Mary St
Chilliwack, BC V2P 4J2


HIGHLIGHTS

  • 10,727-sf site in Downtown Chilliwack with R5 zoning and Village Quarter OCP designation
  • Improved with an 11-unit rental apartment building, built in 1972
  • Stable in-place income with significant income growth potential
  • Significant long-term redevelopment potential adjacent Chilliwack General Hospital
  • Located steps from District 1881, retail, restaurants, and community amenities, ensuring strong tenant appeal

OVERVIEW

Avison Young is pleased to present Mountain View Apartments, an 11-unit rental complex located at 9091 Mary Street in the heart of Downtown Chilliwack. Built in 1972 and situated on a 10,727 sf site, the Property is improved with a three-storey apartment building and offers surface parking for tenants. The Property currently provides stable cash flow, with average rents approximately 20% below market. With modest upgrades, rents have the potential to increase by 30% or more, supporting significant income growth. This strong rental upside also creates opportunities for favorable financing, including eligibility under CMHC’s MLI Select program.

FOR SALE DETAILS

PRICE

$2,500,000 CAD

PRICE/SF

$255 CAD /SF

# OF UNITS

11

PRICE/UNIT

$227,273

CAP RATE

4.32%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mountain View Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,727 SF

ZONING

R5

APN/PARCEL ID

011141859

ASK ABOUT THIS PROPERTY

Bijan LaljiAvison YoungMore Info
236-804-1037

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Bijan LaljiAvison YoungMore Info
236-804-1037

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