$1,595,000
$1,620,000
1.5%For more information regarding the value of a property, please contact us for a free consultation.
30 North Shore Rd Lake Cowichan, BC V0R 2G0
0.34 Acres Lot
Key Details
Sold Price $1,595,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 852332
Sold Date 12/15/20
Rental Info Unrestricted
Year Built 1981
Annual Tax Amount $9,294
Tax Year 2019
Lot Size 0.340 Acres
Acres 0.34
Property Description
Great investment opportunity - See financials in supplements. Also make sure to view virtual tour. You can own this rare 2 storey apartment building situated on the banks of the pristine Cowichan River with gorgeous water & mountain views. Originally built as a 400 seat movie theatre, the property was redeveloped with all the necessary building permits in the early 80's as an apartment building. A total of 13 units with a history of little or no vacancies generate a gross revenue of $128,340.00. The cap rate for this lucrative investment works out to be 5.7% at a price of $124,615 per suite. The suite mix is 2 studio, 7 one bedrooms and 4 two bedrooms. Updated bathrooms, newer carpeting, updated windows, laminate & tile flooring & newer countertops & faucets in the apartments are just some of the many updates. There are 14 parking spaces on site. The property is zoned C-3. It is centrally located in town and within easy walking distance to shops and services.
Location
State BC
County Lake Cowichan, Town Of
Area Du Lake Cowichan
Zoning C3
Interior
Heating Baseboard, Electric
Flooring Linoleum, Mixed, Tile
Window Features Insulated Windows
Exterior
Exterior Feature Balcony, Water Feature
Parking On Site 1
Utilities Available Cable Available, Electricity Available, Garbage
Amenities Available Secured Entry, Shared BBQ
Waterfront 1
Waterfront Description River
View Y/N 1
View Mountain(s), River, Other
Handicap Access Accessible Entrance, Ground Level Main Floor
Building
Lot Description Dock/Moorage, Rectangular Lot, Sidewalk, Serviced, Central Location, Easy Access, Recreation Nearby, Shopping Nearby, See Remarks
Story 2
Foundation Poured Concrete
Water Municipal
Structure Type Frame
Others
Tax ID 000-789-178
Ownership Freehold
Pets Description Yes
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Bought with Unrepresented Buyer Pseudo-Office