LOADING

30 North Shore Rd Lake Cowichan, British Columbia V0R 2G0

9600 sqft
Baseboard Heaters Waterfront On River

$1,620,000

Just reduced from $1,720,000 to $1,620,000. Owner wants it sold! Great investment opportunity - See financials in supplements. Also make sure to view virtual tour. You can own this rare 2 storey apartment building situated on the banks of the pristine Cowichan River with gorgeous water & mountain views. Originally built as a 400 seat movie theatre, the property was redeveloped with all the necessary building permits in the early 80's as an apartment building. A total of 13 units with a history of little or no vacancies generate a gross revenue of $128,340.00. The cap rate for this lucrative investment works out to be 5.7% at a price of $124,615 per suite. The suite mix is 2 studio, 7 one bedrooms and 4 two bedrooms. Updated bathrooms, newer carpeting, updated windows, laminate & tile flooring & newer countertops & faucets in the apartments are just some of the many updates. There are 14 parking spaces on site. The property is zoned C-3. It is centrally located in town and within easy walking distance to shops and services. Bring your offer. (id:36938)

Property Details

MLS® Number 852332
Property Type Multi-family
Neigbourhood Lake Cowichan
Features Central Location, See Remarks, Other, Rectangular, Moorage
Plan Vip5631
View Type Mountain View, River View, View
Water Front Type Waterfront On River

Building

Constructed Date 1981
Fire Protection Fire Alarm System
Fireplace Present No
Heating Fuel Electric
Heating Type Baseboard Heaters
Size Interior 9600 Sqft
Type Multi-family

Land

Acreage No
Size Irregular 14810
Size Total 14810 Sqft
Size Total Text 14810 Sqft
Zoning Description C3
Zoning Type Unknown

https://www.realtor.ca/real-estate/22252190/30-north-shore-rd-lake-cowichan-lake-cowichan

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