118 & 124 Redwood Drive
Fruitvale, British Columbia
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.