Catylist ID: #30436349
Multi-Residential Investment Opportunity - Thelmo Mansions Apartments
Multi-Family for Sale
|Catylist Listing ID:||30436349|
|Number of Units:||80 Units|
|Building Size (RSF):||67,524 SF|
|Gross Land Area:||28,000 SF|
|Unit Price:||$95,187.50 Per Unit|
|Property Use Type:||Investment|
|Building Name:||Thelmo Mansions|
Overview / Comments
Colliers National Investment Services in Winnipeg is pleased to announce the offering of Thelmo Mansions at 519 Burnell Street on behalf of Grant Thornton Limited acting solely in its capacity as court-appointed Receiver and manager of the registered owner, 5448124 Manitoba Ltd. 519 Burnell Street is a character multi-residential investment property featuring 80 suites located in an affordable urban and culturally rich West End neighbourhood.
• Well positioned character multi-family building situated only five minutes from The University of Winnipeg, Health Sciences Centre, and CF Polo Park.
• Stabilized and near fully leased apartment building with a portion of modernized suites having newer windows, roof, and mechanical systems along with upside rental rate potential by way of continued reinvestment in the building features, suites, and amenities.
• Solid wood and masonry construction with an attractive suite mix and a favourable distribution of one-bedroom (72% of total) and two-bedroom suites (28% of total) ranging in size from approximately 650 to 900 square feet.
• Elimination of existing rental discounts offers prospective investors an efficient and legal means of above market revenue growth.
• Approximately 20 on-site surface parking stalls as well as abundant street level parking is available.
• Available well below replacement cost and offered clear of financing and management encumbrances.
Offered for sale at $7,615,000 ($95,200 per suite) with all offers to be submitted to Colliers International and considered as received. For more information, please contact Colliers at 204-943-1600 or visit https://www.collierscanada.com/27676
Attachments & Media
|Zoning:||R2 - RESIDENTIAL - TWO FAMILY|
Donald WhiteColliers International - Don White
Clarise MareColliers International
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