The CBRE National Apartment Group – BC is pleased to present the opportunity to acquire the Birchwood Manor Apartments; comprised of three rental apartment buildings with a combined 31 suites, situated on one large lot located at 33382 George Ferguson Way in the heart of Abbotsford, BC. Long regarded as one of the strongest rental markets in Canada with a 1.2% vacancy rate (CMHC 2019). The offering represents a unique repositioning opportunity to renovate suites upon turnover and re-lease them at market rents in a growing market.
The three rental buildings are situated on a combined 45,270 Sq. Ft. land parcel fronting George Ferguson Way and is identified as part of a development corridor and the community plan proposed for Urban 1 Midrise allowing for a development consisting of six storeys and up to 2.5 FSR, providing an excellent future redevelopment opportunity for an investor.
With the property being held in a bare trust and clear title, this is a barrier free asset to acquire for any investor.