$16,700,000

Investment For Sale In Newcastle, Nanaimo, British Columbia

$16,700,000

Property Information:

Cypress Garden Apartments. 64 suite apartment building with a well balanced suite mix featuring a unique 3750 sq ft Penthouse boasting breathtaking views. Situated in the Brechin Hill neighbourhood, located steps from the scenic seawall and within walking distance to downtown Nanaimo. This property offers investors the opportunity to acquire a large scale apartment building that has been privately owned and managed for over 35 years. Well maintained receiving numerous capital upgrades. Represents a rare opportunity to acquire a property of scale with strong cash flow potential in one of British Columbia's fastest growing municipalities.

Property Features:

  • Annual Tax Amount: $84,944
  • Business Type: Accommodation
  • Lot Frontage: 40510.8 Square Feet
  • Lot Size: 0.93 Acres
  • Ownership: Freehold
  • Parking Features: On Site
  • Property Sub Type: Multi Family
  • Road Surface Type: Paved
  • Zoning: R8
  • No. of Parking Spaces: 64

Courtesy of: Century 21 Harbour Realty Ltd., Colliers

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