Multi-family for sale
1260 Kingfisher Avenue, Kitimat
$4,500,000
Features
Year Built
1957
Floor Area
9,600 sqft
Lot Size
62,521 sqft
Gross Property Tax
$7,190.81 /year
Building Type
Low Rise (2-4 storeys)
Zoning
R3-A
# of Parking Spaces
Ext
Subject Property Width
190 ft
Subject Property Depth
338 ft
Suite Mix Information
30 x 2 ½
Total no. of Units
30
Description
Positioned in one of Northern BC’s strongest, most resilient rental markets—fuelled by LNG Canada & Rio Tinto—turnkey, income-producing 30-unit apartment building presents an exceptional opportunity to acquire a high-performing multifamily asset with immediate and long-term upside. Property features 30 large two-bed suites with rents starting at $2,200/month, generating $42,656 in monthly gross income at ~83% occupancy, delivering an attractive 8.76% cap rate. With five vacant suites ready for lease-up, investors can unlock an additional ~$11,000 in monthly gross income almost immediately, significantly boosting cash flow and value. Motivated seller is offering a rare low-equity entry structure, including a Vendor Take-Back bridge to support CMHC financing, an ideal acquisition for investors seeking strong leverage, scalable returns. Beyond the in-place income, the site offers significant future upside through a potential 18-unit expansion. Call us today to set up a showing!
MLS® Number C8075060