- Status:
- Active
- Prop. Type:
- Commercial Sale
- MLS® Num:
- 960763
- Photos (55)
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Meticulously maintained, MULTIFAMILY RENTAL INCOME PROPERTY ripe for the savvy investor ready to embrace a winning combination of considerable income, natural beauty and convenience. Projected CAP RATE of 5.6%. All units have 3 bedrooms & 1 full bathroom; all completely updated, well maintained, non smoking, in great condition with full sized appliances, including laundry and individual storage sheds. All with crawl spaces for easy access. Gentle sloping, 2+ acre corner lot with a safe, private, no-through road offering plenty of parking. Prime location with a 0% vacancy rate. Great tenants in place. Very low maintenance. Direct access to the Trans Canada Trail. Private waterfront along the pristine salmon bearing Stanley Creek. Very quiet and peaceful. Only a 1 minute drive to town! Within the Urban Containment Boundary, there are two prime buildable sites for additional multifamily units on either end of the property speaking to great potential for future subdivision.
- Property Type:
- Commercial Sale
- Type:
- Multi Family
- Commercial Type:
- Building
- Lease Type:
- See Remarks
- Listing General Location:
- Du Lake Cowichan, Duncan
- Bathrooms:
- - (Full:-/Half:-)
- Taxes:
- $5,911.35 / 2024
- Building Features:
- Shopping Nearby, Storage Room
- Construction:
- Stucco
- New Construction:
- No
- Foundation:
- Concrete Perimeter
- Number of Storeys:
- 1
- Floor finish:
- Laminate, Vinyl
- Total Building Area:
- 6,920 sq. ft.
- Commercial Area:
- Other
- Water supply:
- Municipal
- Sewer:
- Septic System
- Cooling:
- None
- Heating:
- Baseboard
- Fireplace:
- No
- Real Estate
- Water Feature
- Mountain(s)
- Main Level
- 0
- Yes
- No
- Unrestricted
- Assessed:
- 952000.0
- Assessment year:
- 2024
- Gross Income:
- 185148.0
- Net Operating Income:
- 164257.0
- Jurisdiction name:
- Town of Lake Cowichan
- Legal Description:
- LOT 1, PLAN VIP5560, DISTRICT LOT 16, COWICHAN LAKE LAND DISTRICT, EXCEPT PLAN 12069
- Zoning:
- R-3
- Occupancy:
- Tenant
- Property Condition:
- Updated/Remodeled
- Lot Site Features:
- Corner Lot, Easy Access
- Parking Features:
- On Site
- Business Type:
- Accommodation
- Total Units:
- 8
- Date Listed:
- Jun 13, 2024
- Original Price:
- 2950000.0
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Trans Canada Trail Steps from the Property
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Stanley Creek
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Stanley Creek
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Unit 1
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Unit 2
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Virtual Tour
Listed by Realocity Realty Inc.
Data was last updated July 4, 2024 at 06:05 AM (UTC)
Area Statistics
- Listings on market:
- 49
- Avg list price:
- $1,498,000
- Min list price:
- $50,000
- Max list price:
- $15,000,000
- Avg days on market:
- 125
- Min days on market:
- 2
- Max days on market:
- 566
These statistics are generated based on the current listing's property type
and located in
Duncan. Average values are
derived using median calculations.
- BRIAN HORWITZ
- REALOCITY REALTY INC.
- 1 (250) 7158527
- Contact by Email
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Brian Horwitz
Realocity Realty Inc.
Office Address:
1789 Wilmot Road
Cowichan Bay,, BC, V0R 1N1