Multi-family for sale
626 Wallace Street, Hope
$1,898,000
$1,898,000
Multi-family for sale
626 Wallace Street, Hope
Features
Year Built
1997
Floor Area
5,494 sqft
Lot Size
9,300 sqft
Gross Property Tax
$5,957.41 /year
Building Type
Low Rise (2-4 storeys)
Zoning
RM-1
Subject Property Width
50 ft
Subject Property Depth
186 ft
Amenities
Air Conditioning, Balconies, Paved Yard
Suite Mix Information
1 x 1 ½, 5 x 2 ½
Total no. of Units
6
Financial Summary
$81,522
Description
Impeccably kept 6 unit apartment (built in 1997) in the heart of Hope with Panoramic Mountain views. Excellent location & neighborhood. Steps to everything. Five 2 bedroom apartments & one 1 bedroom & den, all with in-suite laundry. Each unit is bright, spacious, separately metered & tenants pay their own utilities & have fridge, stove, dishwasher, washer, dryer & air conditioning. Building has been extremely well maintained. New roof & A/C units in 2019, half of the appliances are newer, most blinds replaced in 2022. Steady rental income with some long term tenants giving potential for higher rents. Current owners have not had vacancies in the 9 years they have owned it. Lots of parking. Low maintenance property. No dogs & non-smoking building.Current zoning RM-1 allows for Apartment, Seniors housing & accessory uses - Day care & Preschool. OCP Urban/Suburban Residential with potential for, special needs housing, institutional uses & commercial or comprehensive zoning. Invest in your future - a safe bet!
MLS® Number C8059503