The Bruce Avenue Apartments offers investors the opportunity to acquire a cash-flowing apartment building centrally located in Nanaimo, BC, one of the fastest growing municipalities in the province.

The building is strategically located on Bruce Avenue at Fourth Street providing convenient access to Downtown Nanaimo, The Vancouver Island University, transit and a host of tenant friendly services and amenities available within walking distance.

PROPERTY HIGHLIGHTS

+ Heating System: Electric Baseboard Heat (paid by Tenants)
+ Domestic Hot Water: Gas fired boiler (approx. 2-3 years old)
+ Roof System: Torch on (approx. 10-15 years old)
+ Balconies: New vinyl and railings (approx. 3 years ago)
+ Exterior Paint: (approx. 3 years ago)
+ New Fencing at Rear of Property: (1 year ago)
+ Suites are maintained on turnover. A couple of suites have been completely renovated ($30K-$50K)

+ SIGNIFICANT RENTAL UPSIDE: Projected 100% mark-to-market upside to market rents.

+ TENANT PAID HEAT: Electric heat is metered to and paid for by tenants, significantly reducing owner expenses.

+ STRONG FUNDAMENTALS: Canadian multi-family is one of the tightest property sectors in North America and the Nanaimo rental market is characterized by a growing housing under-supply, ownership cost challenges and record population growth leading to near zero vacancy levels and rapid market rent growth.