Multi-family for sale
2905 15th Avenue, Seymour, Prince George
$10,650,000
$10,650,000
Multi-family for sale
2905 15th Avenue, Seymour, Prince George
Features
Year Built
1965
Floor Area
90,900 sqft
Lot Size
34,927 sqft
Gross Property Tax
$66,725.83 /year
Building Type
High-Rise (5+ storeys)
Building / Complex Name
Cedar Tower
# of Elevators
2
Zoning
RM7
Amenities
Balconies, Elevator Passenger, Fitness Facilities, Laundry Facility, Secured Building, Secured Parking
Suite Mix Information
25 x 1 ½, 41 x 2 ½, 1 x 3 ½
Total no. of Units
67
Financial Summary
$893,715
Description
Avison Young is pleased to present the opportunity to acquire Cedar Tower, a 67-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 5.48% 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 C8063558