Apartment Property Sold

Meridian Apartments

420 Holly Avenue

STATUS FIRM DEAL
YEAR BUILT 1966
BUILDING SIZE 10 Suites
SUITE MIX 2 X One Bedroom

8 X Two Bedroom Townhouse

Total = 10 Suites

NOI $71,568
PRICE PER SUITE $150,000
CAP RATE 4.77%

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The Offering

The CBRE National Apartment Group has been retained by the Owner on an exclusive basis to offer the 100% interest in the “Buckingham Arms Apartments,” a fully leased, well-maintained 10-suite rental apartment building conveniently located in Nanaimo, British Columbia. The offering represents the opportunity for investors to acquire a 100% leased, ocean view apartment property that has been substantially updated with the potential to increase cash-flow and yield by moving rents in the remaining suites to market on turnover.

Location

Located in the classic West Coast community of Nanaimo, the Buckingham Arms Apartments is centrally located just minutes from Nanaimo’s historic Downtown core, the Departure Bay Ferry Terminal, Nanaimo’s harbour and the Hospital. The City of Nanaimo is centrally located on the east coast of Vancouver Island 113 km north of Victoria overlooking the Straight of Juan De Fuca.

The property’s central location provides convenient access to a host of tenant friendly amenities and public transportation providing tenants with options for work, shopping and recreation. The property’s proximity to the Old City Quarter, offers tenants convenient access to Nanaimo’s vibrant shopping and dining district and a cross section of shops and services. Furthermore, the property is well situated for recreation, just a few blocks from the 36 hectare Bowen Park, with extensive trail network and outdoor pool and the Harbourfront Walkway, a bicycle and pedestrian-friendly trail that runs along the Newcastle Channel and downtown waterfront.

Contact

LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com

GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com

Walk Score

Walk Score

69

Transit Score

42

Address:
420 Holly Avenue, Nanaimo BC