1.39 ACMultifamily$5,990,000Sale
1.39 AC
Multifamily
$5,990,000
Sale
Fraser Campbell
Royal LePage Coast Capital - Chatterton
The Space
Asking Price$5,990,000
Available Space1.39 AC
MLS® ID1036693
SourceVictoria Real Estate Board
The Building
Well-maintained 42-unit, 3-storey apartment building on a 63,597 sq. ft. lot in Port Alberni. Strong investment opportunity with significant upside potential as current rents are below market and vacancy remains extremely low at 1.5% (CMHC Oct. 2024). Major upgrades completed in 2018–2019 include exterior envelope improvements with HardiBoard siding, double thermal pane windows, vinyl-covered balconies, and new hot water boilers. Features include elevator service, electric baseboard heating with individually metered suites, 3-phase 1,600-amp electrical service, fire alarm system, on-site Coinamatic laundry, private balconies/patios, full municipal services, and SBS flat roof updates in 2025. Bonus bachelor suite (#100) rented at $825/month not included in stated income, offering additional revenue potential.Building area from BC Assessment.
Property TypeMultifamily
Building Size34,632 ft²
Lot Size1.39 AC
MLS® ID1036693
NOTE: MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.
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