4-Plex Investment With Rental Rate Upside and +8,000 SF Surplus Development Land
$995,000
The Opportunity
RLK Commercial is pleased to offer for sale a 100% interest in 2250 6th Avenue, located in Castlegar, BC – an exceptional multi-family investment and development opportunity with consistent occupancy and tremendous upside. Featuring 4 suites including two 2-bed and two 1-bed suites, a two-car garage with potential suite conversion potential, 8 exterior parking stalls, +8,000 SF of surplus development land with proposed concept drawings for a second 4-plex, and a favourable OCP and zoning designation that encourages mixed-use development, the property is extremely well positioned for investors and developers to leverage a stable income base (~6.00% cap rate) to realize exciting upside.
Property Details
Property Type: |
Residential 4-plex |
# of Units: |
4 |
Total Building Size: |
2,772 sq.ft. |
Year Built: |
1961 |
Land Area: |
0.4 Acres |
Zoning: |
C3 |
CAP Rate: |
-6.00% |
Presented By
Tristan Chart
250.777.7493
tristan@tristanchartcommercial.com
Property Details
| MUNICIPAL ADDRESS | 2250 6th Avenue, Castlegar, BC |
| TYPE | Residential 4-plex |
| TOTAL AREA (SQ.FT.) | 2,772 sq.ft. |
| NUMBER OF SUITES | 4 |
| SITE AREA (ACRES) | 0.4 Acres |
| ZONING | C3 (Corridor Mixed-Use) |
| CAP RATE | -6.00% |
| LIST PRICE | $995,000 |
Location Overview
Located along 6th Avenue – just one block from the new 54-unit Park Place Condos project, and two blocks from Castlegar’s commercial centre offering Canadian Tire, A&W, McDonald’s, Shoppers Drug Mart, Boston Pizza, the Castlegar Community Complex, and much more.
