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275 Cypress St 64 Unit Apartment Building $16,700,000 CAD ($260,938 CAD/Unit) Nanaimo, BC V9S 5J9
INVESTMENT HIGHLIGHTS
- The Cypress Garden Apartments is prominently situated in the sought-after Brechin Hill neighbourhood offering gorgeous ocean views.
- The property has been well maintained receiving numerous capital upgrades and has been sprinklered throughout.
- Located just steps from the scenic seawall and within walking distance to Downtown Nanaimo.
- This represents a rare opportunity to acquire a property of scale with strong cash flow potential in one of British Columbia’s fastest growing areas.
EXECUTIVE SUMMARY
The Colliers Multifamily Investment Team is pleased to present a 64-suite well-maintained cash-flowing apartment building featuring a very unique 3,750 SF Penthouse boasting breathtaking ocean views originally constructed as the owner’s personal residence.
PROPERTY FACTS
| Price | $16,700,000 CAD | Building Class | C |
| Price Per Unit | $260,938 CAD | Lot Size | 0.93 AC |
| Sale Type | Investment | Building Size | 39,925 SF |
| No. Units | 64 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | ||
| Zoning | R-8 | ||
| Price | $16,700,000 CAD |
| Price Per Unit | $260,938 CAD |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.93 AC |
| Building Size | 39,925 SF |
| No. Stories | 3 |
| Year Built | 1976 |
| Zoning | R-8 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 47 | - | - |
| 2+1 | 17 | - | - |
1 1
Walk Score®
Very Walkable (72)
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275 Cypress St
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