Garrison Place Apartments
Chilliwack, British Columbia
Building
Stats
- Property Type Multifamily - Mid-Rise
- Building size (SF) 82,210
- Size (Ac) 3.75
- Price $1 CAD
- Zoning R5 - Medium Density Residential
Overview
The Property is located along a major arterial route (Vedder Road) which connects directly to downtown Chilliwack and Highway 1 in 10 and 15 minutes respectively. As well, the property has the advantage of its close proximity to Cultus Lake which tenants can access through the Vedder Bridge.
As an investment, this offering is a rare opportunity to acquire three wood-frame apartment buildings. These buildings offer an attractive yield with favourable CMHC assumable debt at 1.79% until 2026. With over $860,000 in capital upgrades, investors can be assured of the quality and maintenance that the Property has received in recent years.
Highlights
$860,000 capital upgrades completed
Each building is separately titled
Rare three building investment opportunity
Situated on a large 3.75-acre site for future development
Held in a bare trust offering significant PTT savings
Below market rents with further income upside
