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Palace Place 397 5th St

39 Unit Block of Flats £13,606,511 (£348,885/Unit) 3.54% Net Initial Yield Courtenay, BC V9N 1J9

Block of Flats British Columbia Courtenay 397 5th St, Courtenay, BC V9N 1J9

Executive Summary

A unique opportunity to acquire a brand-new 39-unit rental apartment building with four ground floor commercial units in downtown Courtenay, BC. The property sits on a 13,455 square foot corner lot. The property qualifies for the Courtenay Property Tax Exemption, saving approximately $89,700 annually.

Attachments

Brochure

Property Facts

Price £13,606,511 Apartment Style Mid Rise
Price Per Unit £348,885 Building Class B
Sale Type Investment Lot Size 0.34 AC
Net Initial Yield 3.54% Building Size 32,667 SF
No. Units 39 Number of Floors 4
Property Type Residential Year Built 2024
Property Subtype Apartment Parking Ratio 0.92/1,000 SF
Price £13,606,511
Price Per Unit £348,885
Sale Type Investment
Net Initial Yield 3.54%
No. Units 39
Property Type Residential
Property Subtype Apartment
Apartment Style Mid Rise
Building Class B
Lot Size 0.34 AC
Building Size 32,667 SF
Number of Floors 4
Year Built 2024
Parking Ratio 0.92/1,000 SF

Unit Amenities

  • Dishwasher
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Fitness Centre
  • Maintenance on site
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397 5th St, Courtenay, BC - aerial map view
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

zoning

Zoning Code C-1 (Commercial One Zone)
C-1 (Commercial One Zone)
(778) 652-2883

Contacts

  • Listing ID: 32097211

  • Date on Market: 11/06/2024

  • Last Updated:

  • Address: 397 5th St, Courtenay, BC V9N 1J9

The Residential Property at 397 5th St, Courtenay, BC V9N 1J9 is currently available for sale. Contact Macdonald Commercial for more information.

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397 5th St, Courtenay, BC for sale Building Photo- Image 1 of 5
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397 5th St, Courtenay, BC for sale Building Photo- Image 2 of 5
Exterior
397 5th St, Courtenay, BC for sale Floor Plan- Image 3 of 5
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397 5th St, Courtenay, BC for sale Aerial- Image 4 of 5
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© 2025 CoStar Group

Palace Place | 397 5th St
(778) 652-2883 x

Palace Place | 397 5th St

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Bob Scragg

(778) 652-2883

(778) 652-2883

Dan Schulz

(778) 652-2883

(778) 652-2883

Chris Winckers

(778) 652-2883

(778) 652-2883

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