WestPark Portfolio - Neepawa

Multi-Family for Sale
Catylist Listing ID: 30762476
Property Subtypes: Mixed Use, Mobile Home Park
Number of Units: 60 Units
Building Size (RSF): 8,771 SF
Gross Building Area: See Agent
Gross Land Area: 20 Acres
Sale Price: $2,500,000
Unit Price: $41,666.67 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/30/2021

Overview / Comments

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Investment merits to the Investor

• Diversified income stream incorporating residential / office / potential industrial or mobile home
park expansion;
• Dynamic local economy led by HyLife Foods / attractive lifestyle / strong population growth;
• Great exposure fronting on the Yellowhead Highway # 16 connecting Winnipeg to Edmonton via Saskatoon;
• Very low vacancy rate in Neepawa for rental housing;
• Stable and increasing investment returns from mobile home park lot revenues;
• Expansion possibilities on the 4.4 acres of adjacent vacant land;
• Office building featuring Province of Manitoba regional offices;
• New development projects planned in the immediate vicinity ;
• Mobile home parks offer a community an affordable housing option, low turnover, possibility of offering leasing opportunities.

All to say, the attributes are in place for continuing success for Westpark Place.

Additional Details

Submarket/Township: R36
Tax ID/APN: 142100.000
Zoning: Undisclosed
Highway Access: Highway # 16 - Yellowhead
Property Condition: Good
Year Built: 1971
Zoning Description: RMH, CMH,M2
Water Service: Well
Sewer Type: Municipal

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Contact

Photograph of Listing Agent

Lindsay Ward

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

Reno Augellone

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