Promises Made Promises Kept

32 UNIT APARTMENT INVESTMENT OPPORTUNITY


The Slipway Apartments

2606 Peatt Road, Langford, BC

32 Strata Titled Rental Apartment Complex

 

Slipway -1.jpg

 

A 2004 four storey wood frame building, rented out by the developer since completion.A rental covenant attached to the subject expires in 2016 after which the units could be offered for sale for individual sale.

 

Suites are a unique design with high ceilings and large deck areas.

 

The top floor is comprised of two level units, of of which is a 4 Bed/4 Bathroom unit, Suite sizes range 686 sq.ft to 1,28 sq.ft. Suite mix: 1 loft unit, 2-one bedroom units, 17-two bedroom units, 11-three bedroom units, 1- four bedroom unit for a total of 32 suites. Each unit has in-suite storage & laundry, heat is baseboard electric, some units have electric fireplaces.

Roof Wood frame with torch on membrane cover. Exterior stucco, hardiplank and novabrik. Windows double pane with vinyl sash.

Property size: 39,424 sq.ft. Building Area 36,268 sq.ft.

Multi  Pictures on YouTube

https://youtu.be/io4k5Ddj3DU

 

Price $7,650,000

Blog: The Slipway Apartments Investment Opportunity

www.victoriacommercialrealestate.com

E&O

Information contained herein are from sources we believe to be  reliable although not guaranteed by RE/MAX Camosun and or Fred Carver.

Financial projections supplied by the owner based on their experience and  knowledge of the local current rental market.

 

FRED CARVER  Associate Broker/Accredited Consultant In Real Estate

Cell 250-413-7042-24 hr 250-744-3301-Toll Free 1-800-663-2121

RE/MAX Camosun 4440 Chatterton Way Victoria, BC V8X5J2

 


NEW CONCRETE HIGHRISE APARTMENT COMPLEX


NEW MULTIFAMILY INVESTMENT OPPORTUNITY IN VICTORIA

“THE WAVERLY”

Completed in 2015

51 STRATA RENTAL HIGHRISE COMPLEX

594 Goldstream Ave

Langford BC

 

Victoria BC New 51 Unit Condo Apartment Building Investment

 

The Waverly is situated on the north section of the property comprising of 1.17 acres. The Waverly was completed and tenanted in 2015.The first phase of a two phase project of two concrete 6 story buildings.The second phase will be located on south side of the site. Excellent investment, this highrise apartment building is not only concrete. It was build to condominuium standards and will have individual tiles for possible future sales as a individual condominium rental investment or home ownership.

 

Building Suite Mix

  • 12 Studio 463 sq.ft

  • 12 One Bedroom 614 sq.ft.

  • 21 Two Bedroom 807 sq.ft.

  • 6 Three Bedroom 1079 sq.ft.

  • Total: 51 Strata Rental Units

     

 

Zoning:

 

The subject property is currently zoned C8, Community Town Centre Pedestrian Zone, as per the City of Langford Zoning Bylaw 151 Zoned for 90 units

 

Structural Details

 

Foundations: Poured reinforced concrete footings and foundations.

 

Structure: 6 Story building using Insulated concrete form (ICF) construction with concrete subfloors.

 

Floor Cover: Mixture of tile, hardwood wood floors, and w-w carpet throughout.

 

Ceilings: Assumed painted gypsum board throughout.

 

Gross Building Area : 44,284 square feet

 

Heating: All heating is provided by electric baseboard units. Each unit also have a gas fireplace.

 

Electrical: 200 amp panel for each unit.

 

Exterior Walls: Exterior walls are a mixture of Hardiplank and brick trim

 

Windows: Aluminum frame double pane windows

 

Roof: Flat with torch-on membrane cover

 

Investment Opportunity in VictoriaAppliances: Each unit are equipped with a full size stove and refrigerator plus dishwasher, microwave oven and stacking washer/dryers.

 

Age, Quality and Condition: The  51-unit highrise rental complex has been constructed with good quality features and finishing (to condominium standards). The units, will have an economic life expectancy of 75 years each. Construction is now completed.

 

 

THE WAVERLY PROJECTED NET INCOME MAY/2015


 

Projected

Revenue

Rents and Other Income $748,224.00

Less 3% Vacancy and bad debt $22,446.72

Total Projected Net Revenue $725,777.28

 

Projected

Expenses

Advertising $200.00

Insurance, Dues & Licenses $12,087.00

Property Taxes $60,000.00

Credit Checks $500.00

Repairs & Maintenance $32,156.00

Telephone and Utilities   $31,822.00

Wages and payroll costs $30,000.00

Total Projected Expenses $166,765.00

 

Projected

Net rental Income

before debt service  = $582,459.00

 

Valuation:

$582,459.00

   4.5 cap

 

Equals $12,943,533

 

MARKET ASKING PRICE

$12,900,000

 

E&O

Information contained herein are from sources we believe to be  reliable although not guaranteed by RE/MAX Camosun and or Fred Carver.

 

Financial projections supplied by the owner based on their experience and  knowledge of the local current rental market.

APARTMENT HIGHRISE INVESTMENT OPPORTUNITY IN VICTORIA BC


CONCRETE HIGHRISE INVESTMENT APARTMENT COMPLEX


Newly Constructed Luxury six storey apartment condo.

Concrete Apartment Highrise Excellent Investment-Fred Carver-Apartment

 

 All concrete construction, steel joists, Insulated concrete form construction. The concrete construction provides superior sound proofing insulation and fire safety.All suites have luxury finishes including granite counter tops throughout, including six appliances in each unit.

 

Quality Flooring with combination of ceramic tile in the kitchens and dining areas as well as quality carpet throughout. Apartment ceilings are 8'6 throughout, top floor five units have 13' ceilings. Unit sizes, range from: 465 sq.ft. to 1080 sq.ft, Suite mix 31 x one bedroom units to 17 x two bedroom units, 10 x three bedroom units. for a total of 58 Apartment Condo Units. Superior Quality finishing and all units in -unit laundry. Each unit has additional storage available.

 

Excellent Income Investment Property.

Call Or Email Fred Carver to Meet to Discuss this great Opportunity, in Victoria, BC


Find BC Commercial and Investment Real Estate


 Victoria BC Real Estate Commercial Re/Max Agent Fred Carver

Search For Re/Max Commercial Listing

 

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