Apartment Block For Sale

Multi-Family for Sale
Catylist Listing ID: 30205747
Property Subtypes: Low-Rise/Garden
Number of Units: 18 Units
Building Size (RSF): 9,864 SF
Gross Building Area: See Agent
Gross Land Area: 4,360 SF
Sale Price: $1,495,000
Unit Price: $83,055.56 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 6.7%
Last Updated: 6/28/2018

Overview / Comments

- Located 5 minute drive from downtown
- Bus access directly across the street
- Professionally managed by Armour Management (optional)
- No major outstanding capital upgrades
- 8 – 2 bedroom suites with monthly rent up to $895
- 4 – 1 bedroom suites with monthly rent up to $760
- 6 – Bachelor suites with monthly rent up to $580
- The caretaker pays $300 per month for a 1 bedroom suite, which is normally $720 per month
- Laundry is leased through Coinamatic, averaging $125 per month
- All utilities are included in rents
- $750,000 in renovations invested into building
- New plumbing lines installed with improved drainage
- New 3 storey fire exit installed at the rear of the building
- Electrical upgrades throughout
- Security system can be accessed remotely
- Boiler reconditioned in 2009
- Roof is maintained on an annual basis
- Rooms have been fully renovated with new appliances, doors, cupboards, windows and flooring
- The exterior facade has been upgraded with James Hardie panel siding and insulation
- Property is in rent controls

Attachments & Media

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Zoning: R2
Area Description: Surrounded by schools, parks, residential houses and just blocks away from downtown Winnipeg’s numerous restaurants, shops and amenities.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 3
Year Built: 1910
Year Renovated: 2017
Parking Type: Surface


Contact

Photograph of Listing Agent

Steven Paulus

Avison Young Commercial R.E.(Manitoba)
CPIX® Member
Photograph of Listing Agent

Wes Schollenberg

Avison Young Commercial R.E.(Manitoba)
CPIX® Member
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