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Listed by Fraser Campbell Royal LePage Coast Capital - Chatterton
$5,990,000
Est. payment /mo
34,632 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 34,632 sqft
Price per Sqft $172
MLS Listing ID 1036693
HOA Y/N No
Annual Tax Amount $33,724
Tax Year 2025
Lot Size 1.460 Acres
Acres 1.46
Property Sub-Type Multi Family
Property Description
Well-maintained 42-unit, 3-storey apartment building on a 63,597 sq. ft. lot in Port Alberni. Strong investment opportunity with significant upside potential as current rents are below market and vacancy remains extremely low at 1.5% (CMHC Oct. 2024). Major upgrades completed in 2018–2019 include exterior envelope improvements with HardiBoard siding, double thermal pane windows, vinyl-covered balconies, and new hot water boilers. Features include elevator service, electric baseboard heating with individually metered suites, 3-phase 1,600-amp electrical service, fire alarm system, on-site Coinamatic laundry, private balconies/patios, full municipal services, and SBS flat roof updates in 2025. Bonus bachelor suite (#100) rented at $825/month not included in stated income, offering additional revenue potential.
Location
Province BC
County Port Alberni, City Of
Community Pa Port Alberni
Area Port Alberni
Interior
Fireplace No
Exterior
Parking Features On Site
View Y/N No
Garage No
Others
Ownership Freehold
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Nearby Locations
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