Multi-family for sale
1855 3rd Avenue, Crescents, Prince George
$10,500,000
$10,500,000
Multi-family for sale
1855 3rd Avenue, Crescents, Prince George
Features
Year Built
1974
Floor Area
83,500 sqft
Lot Size
29,446 sqft
Gross Property Tax
$64,489.39 /year
Building Type
High-Rise (5+ storeys)
Building / Complex Name
Cedar Tower
# of Elevators
2
Zoning
RM7
Amenities
Balconies, Elevator Passenger, Laundry Facility, Secured Building, Secured Parking
Suite Mix Information
66 x Bachelor/Studio, 22 x 1 ½, 1 x 2 ½
Total no. of Units
89
Financial Summary
$994,634
Description
Avison Young is pleased to present the opportunity to acquire Hammond Tower, an 89-unit concrete high-rise rental apartment building in Prince George, BC. The Property is institutionally owned, managed and upgraded with convenient access to Highway 16 & 97, Spruceland & Pine Centre Shopping Malls and educational hubs such as UNBC and College of New Caledonia. The Property has a 5.60% stabilized cap rate and features significant rental upside with current rents below market and strong additional revenue from parking, laundry and telecom. This offering presents an investor a remarkable opportunity to acquire superb scale in a highly desirable rental market. (Environmental: no further investigation required. Financing: assumable CMHC debt available or treat as clear title. Ownership status: asset sale)
MLS® Number C8063562