St. Michelle Apartments 329 7th St 21 Unit Block of Flats £3,158,608 (£150,410/Unit) 4.48% Net Initial Yield New Westminster, BC V3M 3K9
INVESTMENT HIGHLIGHTS
- Full suite and lobby renovations
- Breaker panels in each suite
- Landscaping
- Exterior refurbishment and painting
- Energy efficient lighting throughout building common areas & suites
- New appliances in renovated suites
EXECUTIVE SUMMARY
NAI Apartments is pleased to offer the opportunity to acquire a 21-unit apartment building in New Westminster on Seventh Street, between Fourth Avenue and Blackford Street. The St. Michelle building is professionally managed and has undergone several renovations throughout recent years totalling over $300,000.
Investment Highlights and Building Upgrades
• Full suite renovations
• Exterior refurbishment and painting
• Lobby renovation
• Breaker panels in each suite
• Energy efficient lighting throughout building common areas & suites
• Landscaping
• New appliances in renovated suites
Suite Renovations - St. Michelle has implemented its suite renovation program on 14 out of 21 suites (67% of total suites). The purchaser has an opportunity to renovate the balance of 7 suites.
Investment Highlights and Building Upgrades
• Full suite renovations
• Exterior refurbishment and painting
• Lobby renovation
• Breaker panels in each suite
• Energy efficient lighting throughout building common areas & suites
• Landscaping
• New appliances in renovated suites
Suite Renovations - St. Michelle has implemented its suite renovation program on 14 out of 21 suites (67% of total suites). The purchaser has an opportunity to renovate the balance of 7 suites.
PROPERTY FACTS
| Price | £3,158,608 |
| Price Per Unit | £150,410 |
| Sale Type | Investment |
| Net Initial Yield | 4.48% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 18,468 SF |
| Number of Floors | 3 |
| Year Built | 1969 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | RM-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 17 | - | - |
1 of 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (76)
