Catylist ID:
#30332548
| Catylist Listing ID: | 30332548 |
| Property Subtypes: | Low-Rise/Garden |
| Number of Units: | 20 Units |
| Building Size (RSF): | 12,197 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 12,197 SF |
| Sale Price: | $1,920,000 |
| Unit Price: | $96,000 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Undisclosed |
| Cap Rate: | Undisclosed |
| Last Updated: | 2/11/2021 |
Overview / Comments
|
A rare opportunity to own a character block on the banks of the Assiniboine River overlooking a tree lined River Heights neighbourhood to the South, and the laid back trendy Wolseley neighbourhood to the West. The traditionally low vacancy rates in the area make it attractive for professionals and hospital staff ensuring attractive rental rates and stability. The Winnipeg Condominium Corporation #74 (WCC 744) Board of Directors has decided to sell their units as a block, as the building requires the following structural work to be completed as per the Crosier Kilgour & Partners Ltd. structural assessment report on the building: - Piling: $750,000 - Foundation Repair: $150,000 - Waterproofing exterior foundation walls: $100,000 - Exterior wall crack repair and mortar joint repointing: $120,000 The total estimated cost to complete the work is $1,120,000. Prospective buyers will have access to all information available located in a Dropbox folder and are encouraged to seek their own qualified advisors for opinions with respect to financing, renovation estimates, and legal counsel. Once the investment in the structural stabilization has been completed, the new owner will own a 20 suite apartment block with a superbly located address on the river with beautiful views, on a quiet street across from an elementary school and a short walk to bus, hospital, restaurants, and amenities of the Sherbrook Strip. |
Attachments & Media
Additional Details
| Nearest MSA: | Winnipeg |
| Market: | Winnipeg |
| Submarket/Township: | 5B |
| Tax ID/APN: | 12097775000 |
| Zoning: | MF |
Contact
Wes SchollenbergAvison Young Commercial R.E.(Manitoba)CPIX® Member 
Steven PaulusAvison Young Commercial R.E.(Manitoba)CPIX® Member |
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