118 & 124 Redwood Drive

Fruitvale, British Columbia

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Building

Stats

  • Property Type Multifamily - Low-Rise/Garden
  • Year built 1979
  • Building size (SF) 1
  • Size (Ac) 66,387
  • Price $5,100,000 CAD

Overview

The Avison Young Multi-Family Team is pleased to

market for sale 118 & 124 Redwood Drive, Fruitvale, BC (the “Property”). The Property is improved by two wellmaintained and upgraded rental apartment buildings totaling 52-units on 1.52 acres of land. Fruitvale is located within BC’s Kootenay Region with a population of 59,517 (2016 census) and is experiencing rental supply constraints due in part to positive net migration. The Property is located within a 10-minute drive to Trail Regional Airport, an 18-minute drive to Trail and is within close proximity to an abundance of shopping, services and amenities including Walmart Supercentre, Liberty Food Store and BCLiquor. The Property is 100% occupied with a waitlist and has significant rental upside on natural tenant turnover offering an investor consistent cash flow with income growth opportunities.

Highlights

Capital improvements & upgrades in excess

of $385,000 (new roofs, new hot water tanks,

electrical upgrades, new balconies, paint and more)

On-site caretaker for ease of management

Consistent cash flow with 100% occupancy and a
waitlist

Significant rental upside achievable (current

average rent is ~25% below market)

On-site laundry facilities (coin-operated washers

and dryers)

Location Map

Team

Carey Buntain

Carey Buntain

Principal
Avison Young
+1 604 647 1352
Bijan Lalji

Bijan Lalji

Associate
Avison Young
+1 604 757 1115
Megan Low

Megan Low

Associate
Avison Young
+1 604 646 8389
Chris Wieser

Chris Wieser

Principal
Avison Young
+1 604 647 5089

Downloads

Brochure

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