1530 - 1600 Albatross Avenue, Kitimat - Macdonald Commercial
FOR SALE 80 UNIT APARTMENT COMPLEX 1530 - 1600 Albatross Avenue, Kitimat, BC
For further information, contact: Bruce Long CCIM, FRI Personal Real Estate Corporation
Vancouver
604.312.2000
[email protected]
Macdonald Commercial Real Estate Services Ltd. 1827 West 5th Ave, Vancouver, BC V6J 1P5 T 604.736.5611 | F 604.736.7976 | www.macdonaldcommercial.com
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
EXECUTIVE SUMMARY
1530 - 1600 Albatross Avenue, Kitimat, BC
ABOUT KITIMAT, BC
PROPERTY TAXES (2016)
Kitimat, being Western Canada’s busiest private port, and one of only two wide-flat valleys on Canada’s West Coast, has become known for its great potential for future development in the energy sector.
$20,407.32
Although delayed due to recent world market conditions, many companies in the LNG industry continue to plan for development of LNG export terminals in Kitimat.
ABOUT VIEWPOINT APARTMENTS
Viewpoint Apartments is comprised of eight low-rise buildings of 10 units each, totalling 80 units. All apartment blocks have undergone recent renovations and are above average condition. Extensive renovations include: new roofs, paint, hot water tanks, many new appliances and coin laundry machines. Many units have received new flooring and bathroom renovations. Security upgrades include new LED lighting system and security cameras. 29 of the 80 suites come furnished. The surrounding neighbourhood is a mix of single residential and multifamily dwellings. There is public transit, an elementary school, a corner store all close by, and downtown is a short drive.
SUITE MIX 9 x 1 Bedroom / 60 x 2 bedroom 10 x 3 Bedroom / 1 x Caretaker’s suite
LOT SIZE 4.39 Acres
ZONING R3-A (Multi-Family Residential)
EFFECTIVE GROSS INCOME (2016) $576,951
EXPENSES $276,589
NET OPERATING INCOME $300,362
CURRENT OCCUPANCY 63%
BUILDING AGE Built in 1957. Effective age is 24 years
PRICE $5.2 MILLION
LEGAL PLAN
1530 - 1600 Albatross Avenue, Kitimat, BC
SUBJECT
For further information, contact: Bruce Long CCIM, FRI Personal Real Estate Corporation
Vancouver
604.312.2000
[email protected]
Macdonald Commercial Real Estate Services Ltd. 1827 West 5th Ave, Vancouver, BC V6J 1P5 T 604.736.5611 | F 604.736.7976 | www.macdonaldcommercial.com
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
EXECUTIVE SUMMARY
1530 - 1600 Albatross Avenue, Kitimat, BC
ABOUT KITIMAT, BC
PROPERTY TAXES (2016)
Kitimat, being Western Canada’s busiest private port, and one of only two wide-flat valleys on Canada’s West Coast, has become known for its great potential for future development in the energy sector.
$20,407.32
Although delayed due to recent world market conditions, many companies in the LNG industry continue to plan for development of LNG export terminals in Kitimat.
ABOUT VIEWPOINT APARTMENTS
Viewpoint Apartments is comprised of eight low-rise buildings of 10 units each, totalling 80 units. All apartment blocks have undergone recent renovations and are above average condition. Extensive renovations include: new roofs, paint, hot water tanks, many new appliances and coin laundry machines. Many units have received new flooring and bathroom renovations. Security upgrades include new LED lighting system and security cameras. 29 of the 80 suites come furnished. The surrounding neighbourhood is a mix of single residential and multifamily dwellings. There is public transit, an elementary school, a corner store all close by, and downtown is a short drive.
SUITE MIX 9 x 1 Bedroom / 60 x 2 bedroom 10 x 3 Bedroom / 1 x Caretaker’s suite
LOT SIZE 4.39 Acres
ZONING R3-A (Multi-Family Residential)
EFFECTIVE GROSS INCOME (2016) $576,951
EXPENSES $276,589
NET OPERATING INCOME $300,362
CURRENT OCCUPANCY 63%
BUILDING AGE Built in 1957. Effective age is 24 years
PRICE $5.2 MILLION
LEGAL PLAN
1530 - 1600 Albatross Avenue, Kitimat, BC
SUBJECT
