GILLAM MANITOBA EXTENDED STAY APARTMENT - 11 SUITES

Multi-Family for Sale
Catylist Listing ID: 30282798
Property Subtypes: Low-Rise/Garden
Number of Units: 11 Units
Building Size (RSF): 12,438 SF
Gross Land Area: 12,500 SF
Sale Price: $2,700,000
Unit Price: $245,454.55 Per Unit
Property Use Type: Investment
Building Name: The Nelson
Usable Size (USF): 12,438 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/19/2018

Overview / Comments

The Nelson is an 11 suite/19 bed, extended stay apartment property in the Town of Gillam; sale includes parking lot at separate title/lot 4. Originally constructed as a Behlen steel building on full basement it has been recently rebuilt by the renowned, executive home builder/owner. Quality of materials and workmanship is evident throughout. All new mechanicals; very energy efficient building.

Gillam Town was built as a hub community that supports imported staff/their families and locals who work the hydroelectric power stations of the Nelson River system. The property is operated as comfortable accommodation for professionals, tradesmen and contractors conducting business in this part of the north, particularly with Manitoba Hydro. Building size is bmt. 4,146 sf; main 4,146 sf; 2nd 4,146 sf: Total 12,438 sf. It was built in 1973 and renovated in 2014.

Lot 4 for parking is also 50' x 125'; 2018 tax at Lot 4 is $230.12. 8-2's + 3-1's = 11 suites total. One 2 bed is in the basement. 3-2's + 2-1's are on the main floor. 4-2's + 1-1 bed are on the second floor. Basement suite is built to code and approved with a specific occupancy permit.

Additional Details

Market: Winnipeg
Submarket/Township: R41
Taxing Authority: TOWN OF GILLAM
Tax ID/APN: 0001500000
Zoning: DOWNTOWN
Percent Occupied: 100%
Property Located Between: Nahavway Street and Isham Street
Highway Access: Gillam is accessible from the south by Provincial Trunk highway 6 and Provincial Road 280.
Airports: Gillam
Site Description: 223 Railway Avenue, The Nelson sits upon titled property lot 5, block 2, plan 603. Adjacent to this is lot 4, block 2, plan 603 which is included in the offering and which is the building parking lot. Access to this area for vehicles is from the public lane which is currently being rebuilt/repaved by the Town of Gillam. Parking plugs on wooden fencing is in place and there is a wooden fence for privacy.
Area Description: The Town of Gillam is a thriving community located 730 kilometres by air from Manitoba's capital city, Winnipeg. Part of Manitoba's Norman Region, Gillam is 300 kilometres northeast of Thompson, the region's largest city. Calm Air flies twice a day from the main terminal at Winnipeg James Richardson International Airport to Gillam Airport. From "Profile" at the Town of Gillam website. "Today, the economy of the community is bustling with numerous businesses and services located throughout the town. The community acts as a retail and shopping centre for a large number of small Northern Manitoba communities. Air or truck brings in goods and supplies, and are re-distributed to the communities that need them. Gillam is located in a wilderness paradise and has built itself a thriving tourist industry. The region is dotted with thousands of untouched lakes and streams, and the opportunities for trophy fishing are almost endless. Numerous lodges and fly-in outposts attract thousands of hunters, fishers and outdoors enthusiasts each year. Many of these travellers pass through Gillam on their way in or out of the wilderness, and many of the town's businesses capitalize on this opportunity by providing goods, supplies and accommodations." Also from the Town website, " Around 1966, It was decided that the north held a great potential for hydroelectric power. The starting of Kettle Generating Station increased the population of Gillam to over 3,000. Gillam became a modernized "suburban" town complete with housing, shopping mall, recreational center, hospital, Nursery - Grade 12 school, water and sewage treatment plants, staff houses, three churches, and an airport , bus and train stations. Also, after the construction of Kettle was complete, Longspruce and Limestone Generating Stations were constructed. Gillam currently has a population of approximately 1,200 residents."
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1973
Year Renovated: 2014
Roof Type: Arched
Construction/Siding: Metal Siding, Steel Frame, Stone, Vinyl Siding
Exterior Description: The exterior is highly maintenance free and durable made mostly of corrugated, galvanized steel sheets. Some inset vinyl siding and decorative stone along the front of the building provide curb appeal. Windows are pvc framed and doors are trimmed with hardie board.
Parking Type: Surface
Parking Description: surface parking with electric plugs on wooden fence is beside the building on Lot 4.
Total Parking Spaces: 12
Laundry: Shared
Sprinklers: None
Heat Type: Electricity, Hot Water
Heat Source: Baseboard, Radiant
Fuel: Electric
Air Conditioning: Evaporative Cooler
Internet Access: DSL
Interior Description: Main floor suites have direct exterior access from their individual entry doors. With the exception of the lobby which embodies a staircase to the second floor, there is no common hallway on the main floor. Secure private entry to the basement suite/storage/laundry room is available through a door on the north wall. A staircase from the main floor to the second floor leads to a typical common hallway upon which the entrances to the second floor suites are. Finishes are typical and modern such as carpet, painted drywall ceilings and walls. lights are LED and millwork/doors/hardware are of good quality and modern by style. Individual suites are best described by the photos included here and all units provide users with modern comfort and conveniences.
Zoning Description: The subject is located in a zoned area of the Town of Gillam known as "Downtown". Multifamily among other commercial uses are permitted here.
Lot Frontage: 50
Lot Depth: 125
Water Service: Municipal
Sewer Type: Municipal
Easements Description: n/a
Land Ownership: fee simple
Legal Description: 223 Railway Avenue: the building sits upon this title #2676574. It is lot 5, block 2, plan 603. Parking lot: this is title 2725374 and is known as lot 4, block 2, plan 603.


Contact

Photograph of Listing Agent

Daryl Benoit

Century-21 carrie.com
CPIX® Member
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