Turn Key, Value Add Multi-Family Investment Portfolio

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30169170
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 11 Units
Building Size (RSF): 7,524 SF
Gross Building Area: See Agent
Gross Land Area: 4,576 SF
Sale Price: $930,000
Unit Price: $84,545.45 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 2/2/2018

Overview / Comments

CONDITIONALLY SOLD. This property is being sold as part of the M.R. Lopes Investments Inc. Apartment portfolio which consists of 233 units across seven (7) buildings located at: 111 Stadacona Street, 191 Roch Street, 512 Balmoral Street, 469 Kennedy Street, 277 Langside Street, 210 St. Mary's Road, and 142 Furby Street.

On behalf of a Winnipeg based family ownership group, Colliers International in Winnipeg is very pleased to re-introduce the 233 unit M.R. Lopes Investments Inc. Winnipeg apartment portfolio for sale with modified pricing. The scale of this meticulous privately held and operated apartment portfolio is seldom offered in Winnipeg and has effectively been 100% occupied over the past several years offering prospective buyers a scalable, multi-residential investment featuring affordability, quality, cleanliness, and a diversified suite mix. Ongoing investment approaches for this value opportunity include continued upgrading through either an above guideline rent increase approach, a more aggressive rehabilitation approach, or a combination thereof as well as suite count densification.

Features

• With an average in-place rent of only $0.83 per square foot, this 100% occupied turn key apartment portfolio generates consistent and safe returns and features efficient suite layouts with pride of ownership evident in the broader cleanliness, on-going maintenance, and excellent base building condition of each property;
• All assets feature strong and well established mature neighbourhood locations with demand drivers such as nearby access to shopping, community centres, schools, public transit, Winnipeg’s CBD, and the University of Winnipeg campus;
• Excellent suite mix with over 80% of the portfolio consisting of either one or two bedroom units as well as a significant number of large bachelor and studio suites featuring the ability to be converted into one-bedroom units to increase room count;
• Attractive fee potential for purchasers with third party operating businesses (e.g. management, leasing, construction, etc.) is significant; and
• Priced well below replacement cost at a portfolio price of $83,600 per suite resulting in an overall portfolio capitalization rate of 5.3%.

The offering price of this portfolio is $19,485,000 ($83,600 per suite) with offers to be considered by the Vendor on or after October 20th, 2017 noting that the Vendor is now as interested in single asset bids as portfolio bids.

For more information, please contact Colliers at 204-943-1600 or visit www.collierscanada.com/winnipeg.

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Submarket/Township: 2B
Zoning: C1


Contact

Photograph of Listing Agent

Donald White

Colliers International - Don White
CPIX® Member
Photograph of Listing Agent

Clarise Mare

Colliers International
CPIX® Member
© Copyright Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither WinnipegREALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.