Apartment Property Sold

Pine Ridge Village Apartments

Summary

CIVIC ADDRESS 3250 Rock City Road,
Nanaimo, BC
SUITE TOTAL 168
STATUS SOLD (September 2021)

The Opportunity

The CBRE National Apartment Group - BC  is pleased to present the exclusive opportunity to acquire the Pine Ridge Village rental apartment building centrally located on Vancouver Island in the City of Nanaimo, British Columbia.

The Pine Ridge Village Apartments has an excellent suite mix designed to maximize rental revenue.  Tenants of the Pine Ridge Apartments enjoy being within walking distance of a host of amenities including the Country Club Shopping Centre, Transit, and both the Rock City Elementary and Wellington Secondary schools.

Investment Highlights

SCALE WITH SIGNIFICANT LAND
168 suites in 4 buildings situated on 4.25 acres.

SUITE MIX
168 suites comprised of 146 two-bedrooms and 20 three-bedrooms designed to maximize revenues.

SIGNIFICANT RENTAL UPSIDE
Current rents are below market rental rates presenting investors with the opportunity to increase rents to market on turnover.

STRATEGICALLY LOCATED
Pine Ridge Village Apartments are strategically located in Nanaimo offering tenants convenient access to amenities like grocery anchored shopping, transit, schools and cafes and restaurants.

Property Photos

Address:
Nanaimo, BC