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2241 Columbia Av 10 Unit Apartment Building Offered at $1,790,000 CAD at a 5.36% Cap Rate Castlegar, BC V1N 2X2
Executive Summary
We are pleased to present a rare opportunity to acquire a well-maintained, three-storey walk-up apartment building at 2241 Columbia Avenue, Castlegar, BC. The Property comprises 10 all two-bedroom suites, offering an uncommonly uniform suite mix that drives strong tenant demand and stable, long-term income. The building has been thoughtfully maintained and upgraded throughout, featuring 10 spacious two-bedroom suites ranging from 988 sf to 1,024 sf, well above typical market suite sizes. Additional revenue is generated through coin-operated laundry, and ample on-site parking is provided for all units. The Property is generating a 5.36% cap rate, with significant rental upside of $610 per unit/month, providing an opportunity to increase the yield to 9.21%.
Property Facts
| Price | $1,790,000 CAD | Lot Size | 0.33 AC |
| Price Per Unit | $179,000 CAD | Building Size | 10,031 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 5.36% | No. Stories | 2 |
| No. Units | 10 | Year Built | 1996 |
| Property Type | Multifamily | Parking Ratio | 1.89/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4 - Medium Density Residential | ||
| Price | $1,790,000 CAD |
| Price Per Unit | $179,000 CAD |
| Sale Type | Investment |
| Cap Rate | 5.36% |
| No. Units | 10 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Lot Size | 0.33 AC |
| Building Size | 10,031 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1996 |
| Parking Ratio | 1.89/1,000 SF |
| Zoning | R4 - Medium Density Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | 988 - 1,024 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
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2241 Columbia Av
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