3152 Pearson Road, Houston, BC FOR SALE
FOR SALE 24-Unit Rental Townhouse Complex
3152 Pearson Road, Houston, BC Highlights Opportunity to purchase 24 two-storey townhouse units in five buildings. The townhouse complex is located in a central downtown location. Great opportunity to complete renovations and realize the up-side. Michael Marckwort,
Investment Broker 604 691 6638 [email protected]
NAI Commercial 1075 West Georgia St, Suite 1300 Vancouver, BC V6E 3c9 +1 604 683 7535 naicommercial.ca
3152 Pearson Road, Houston, BC Opportunity The subject property is comprised of 24 rental units in five two-storey buildings. Eight of the units are currently occupied, and 16 of the units are in need of renovations. This is a golden opportunity for a buyer to renovate the remaining units and earn the increased rental rates once the improved units are leased. The site benefits from a central downtown location in proximity to all amenities.
Location Welcome to the ‘Steelhead Capital’ of BC, home of the world’s largest fly fishing rod. With a population of approximately 3,600, Houston is a forestry, mining and tourism community conveniently located halfway between the larger northern cities of Prince George and Terrace. Nestled in the beautiful Bulkley Valley, and with a plethora of walking and hiking trails through the area, Houston is home to some of BC’s finest outdoor recreational opportunities.
Building Features Building built in 1970’s (about 40 years old)
Eight units completely renovated and fully leased
Two-storeys with full, unfinished basement
Seven units 80% renovated and vacant
Hydro & heat expenses are covered individually by each tenant
Nine units with window and exterior renovations only
Professionally managed
9 Units Unimproved
$6,300
Current Rent
Projected
$67,200
$201,600
$67,200
$201,600
Three-bedrooms
20 units
1,152 sf each
Four-bedrooms
4 units
1,416 sf each
24 units
28,704 sf
Total
$12,000
2.31 acres
Property Manager
$3,360
$10,080
Zoning
Property Taxes
$7,000
$7,000
Main. & Repairs
$3,360
$10,080
Normalized Expenses
$26,720
$40,160
Net Operating Income
$40,480
$161,440
5.2%
15.8%
$32,292
$32,292
List Price
$775,000
Cost to Renovations
$250,000
Total Costs
$5,600 $4,900
$12,000
Price Per Door
$5,600
7 Units PartRenovated
$1,000
Cap Rate
Projected
8 Units Renovated
$1,000
Insurance
Current
Suite Mix & Area
Expenses Accounting & Legal
Rent Roll ($700/mo/unit)
Annual Total
Income Gross Income
Property Details
$1,025,000
Site Size
RM-4 (Multi-Family Residential)
Property Tax (2017) $7,000
Financing Clear Title
Asking Price $775,000
TERRACE
PRINCE GEORGE
SUBJECT PROPERTY
VANCOUVER
SOURCE: Google
6
1 AY HW
G
HI
SUBJECT PROPERTY
PEARSON ROAD
U O M
N
HAGMAN CRES.
TA IN VI
EW
DR
IV E
Michael Marckwort,
Investment Broker 604 691 6638 [email protected]
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.
NAI Commercial 1075 West Georgia St, Suite 1300 Vancouver, BC V6E 3c9 +1 604 683 7535 naicommercial.ca
3152 Pearson Road, Houston, BC Highlights Opportunity to purchase 24 two-storey townhouse units in five buildings. The townhouse complex is located in a central downtown location. Great opportunity to complete renovations and realize the up-side. Michael Marckwort,
Investment Broker 604 691 6638 [email protected]
NAI Commercial 1075 West Georgia St, Suite 1300 Vancouver, BC V6E 3c9 +1 604 683 7535 naicommercial.ca
3152 Pearson Road, Houston, BC Opportunity The subject property is comprised of 24 rental units in five two-storey buildings. Eight of the units are currently occupied, and 16 of the units are in need of renovations. This is a golden opportunity for a buyer to renovate the remaining units and earn the increased rental rates once the improved units are leased. The site benefits from a central downtown location in proximity to all amenities.
Location Welcome to the ‘Steelhead Capital’ of BC, home of the world’s largest fly fishing rod. With a population of approximately 3,600, Houston is a forestry, mining and tourism community conveniently located halfway between the larger northern cities of Prince George and Terrace. Nestled in the beautiful Bulkley Valley, and with a plethora of walking and hiking trails through the area, Houston is home to some of BC’s finest outdoor recreational opportunities.
Building Features Building built in 1970’s (about 40 years old)
Eight units completely renovated and fully leased
Two-storeys with full, unfinished basement
Seven units 80% renovated and vacant
Hydro & heat expenses are covered individually by each tenant
Nine units with window and exterior renovations only
Professionally managed
9 Units Unimproved
$6,300
Current Rent
Projected
$67,200
$201,600
$67,200
$201,600
Three-bedrooms
20 units
1,152 sf each
Four-bedrooms
4 units
1,416 sf each
24 units
28,704 sf
Total
$12,000
2.31 acres
Property Manager
$3,360
$10,080
Zoning
Property Taxes
$7,000
$7,000
Main. & Repairs
$3,360
$10,080
Normalized Expenses
$26,720
$40,160
Net Operating Income
$40,480
$161,440
5.2%
15.8%
$32,292
$32,292
List Price
$775,000
Cost to Renovations
$250,000
Total Costs
$5,600 $4,900
$12,000
Price Per Door
$5,600
7 Units PartRenovated
$1,000
Cap Rate
Projected
8 Units Renovated
$1,000
Insurance
Current
Suite Mix & Area
Expenses Accounting & Legal
Rent Roll ($700/mo/unit)
Annual Total
Income Gross Income
Property Details
$1,025,000
Site Size
RM-4 (Multi-Family Residential)
Property Tax (2017) $7,000
Financing Clear Title
Asking Price $775,000
TERRACE
PRINCE GEORGE
SUBJECT PROPERTY
VANCOUVER
SOURCE: Google
6
1 AY HW
G
HI
SUBJECT PROPERTY
PEARSON ROAD
U O M
N
HAGMAN CRES.
TA IN VI
EW
DR
IV E
Michael Marckwort,
Investment Broker 604 691 6638 [email protected]
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.
NAI Commercial 1075 West Georgia St, Suite 1300 Vancouver, BC V6E 3c9 +1 604 683 7535 naicommercial.ca
