The opportunity to acquire a very well located three–storey walk-up apartment building in Chilliwack, BC. The offering includes a total of 16 authorized rental units fully renovated in 2016, consisting of 8 one bedroom units, and 8 two bedroom units. There is excellent management already in place and the building is fully occupied at current market rents.
Located on the corner of Edward Street and Kipp Road, the Property is within walking distance to Salish Plaza which features shops like Save-On Foods, Starbucks, and CIBC. Chilliwack General Hospital is a 3 minute drive south and highway access toward Vancouver can be accessed in a 15 minute drive.
Constructed in approximately 1966, with a complete renovation done in 2016. the Property is comprised of 16 rental units with a desirable suite mix of 8 one bedrooms and 8 two bedroom units. All units are occupied at current market rent.
Asking Price $2,999,000
Gross Annual Income: $203,304
Net Operating Income: $146,632
(10 Year Hold)
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