Multi-Family Investment Opportunity in Stonewall, Manitoba

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30326678
Property Subtypes: Low-Rise/Garden, Other
Status: Pending/Contingent
Number of Units: 8 Units
Building Size (RSF): 7,824 SF
Gross Building Area: See Agent
Gross Land Area: 17,152 SF
Sale Price: $840,000
Unit Price: $105,000 Per Unit
Property Use Type: Investment
Building Name: Quarry Glen Apartments
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 10/29/2018

Overview / Comments

CONDITIONALLY SOLD. Colliers’ National Investment Services in Winnipeg is very pleased to announce that it has been retained to act as the exclusive agent in the sale of the Quarry Glen Apartments at 234 2nd Street East in Stonewall, Manitoba on behalf of the registered owner. The offering provides investors with the opportunity to acquire a well-located and manageable rural Manitoba multi-family rental building with convenient access to services and amenities including Stonewall Quarry Park and the many commercial amenities which line Main Street including a Stonewall Family Foods grocery store within walking distance. With eight (8) fully occupied and efficiently designed units, the property sets up well for continued profitability with further repositioning and improvements to a higher rental standard.

Offered for sale at $840,000 ($105,000 per suite) with offers to be considered by the Vendor as received.

Features of the property include:
• Excellent location quietly nestled within the peaceful and growing community of Stonewall, Manitoba with convenient access to schools, parks, restaurants, and commercial amenities which line Main Street;
• Unique opportunity to own one of very few multi-family rental buildings in Stonewall with historically strong occupancy rates and long-standing family ownership;
• With an average rental rate of only $696 per month, this multi-family apartment is well-suited for repositioning to a higher rental standard by way of an RTB approved above guideline rent increase or rehabilitation; and
• Available clear of financial encumbrances.

For more information, contact Colliers at 204-943-1600 or visit http://www.collierscanada.com/25653#.

Additional Details

Zoning: RG - RESIDENTIAL GENERAL ZONE

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Contact

Photograph of Listing Agent

Clarise Mare

Colliers International
CPIX® Member
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