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2655 Warren Avenue Kimberley, BC
FOR SALE
57-Unit Apartment Building With Over 45,000 SF of Net Rentable Area
Opportunity Highlights• 1.88 Acre Site Situated in the Scenic Kootenay Region• Over 56,700 SF of Gross Building Area• Constant Occupancy with Quality Tenants - Long Waiting List
Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
Chris Winckers
778.828.9763
2655 Warren Avenue, Kimberley, BC
Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
778.999.5758
LOCATION
Kimberley is strategically located in the South Eastern corner of British Columbia, just north of the U.S. Border, overlooking the fertile and beautiful Kootenay River Valley and the Rocky Mountains to the east. The City’s population of approximately 7000 enjoy’s living in a unique four-season resort town that offers first-class amenities, such as Wasa Lake, regarded as the best recreational lake in the East Kootenays, and one of the warmest in the province. Kimberley has beautiful 3 golf courses and an additional 4 within 30 km. A well established family ski resort, Kimberely Alpine Resort, filled with great amenities is located in this town. There are endless hiking, camping and fishing opportunities.
The well-planned growth of Kimberley’s golf courses, the‘Kimberley Alpine Resort’ ski area, and the city’s many new real estate developments have contributed to its prosperity and strong economy. A strong economy equates to strong population growth, constant occupancy and quality tenants. As such, income growth is virtually assured. In addition, Kimberley is 30 km to Cranbrook, a thriving community with a service population of
21,000. An international airport is conveniently located 20 km away.
SITEThe subject property is situated on 1.88 Acres with a total gross building
area of 56,700 square feet.
CIVIC ADDRESSES
2655 Warren Avenue, Kimberley,
BC
ZONING
R3 (Multiple Family Residential)
PID
007-996-080
LEGAL DESCRIPTION
LOT 1 DISTRICT LOT 5586
KOOTENAY DISTRICT PLAN 6549
TENURE
Freehold. Title to be delivered free and clear of all financialencumbrances.
PRICE
$5,000,000
CAP RATE
5.49%PRICE PER UNIT
$87,719
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Chris Winckers
778.828.9763
2655 Warren Avenue, Kimberley, BC
IMPROVEMENTS The subject property is improved with a quality three-storey woodframe apartment building built over a concrete foundation. The current owner have designated the building as a senior residents 55+. It is comprised of 57 suites (3 Bachelors, 15 one-bedroom suites, 24 two-bedroom suites, 3 two-bedroom plus den suites, and 12 three-bedroom suites) and sharing a net rentable area of approximately 45,000 square feet. The subject property has a full basement comprised of a laundry room, maintenance shop, electrical room, boiler room, equipment room, individual storage lockers, 55 underground parking stalls and a large common room for all the tenants to enjoy. The main entrance is roughly in the centre of the building facing east, oriented towards Warren Avenue. 15 surface parking stalls providing convenient access for visitors
and social services.
RECENT MAJOR CAPITAL IMPROVEMENTS• New roof done in 2009• New boilers installed in 2012• New insulation done in 2014• New emergency lights installed in 2018• Ongoing window improvements
SUBJECT
57SuitesSUITE MIX
Bachelors 3
One bedrooms 15
Two bedrooms 24
Two bedrooms with den 3
Three bedrooms 12
