Share This Listing

Message

931 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the broker for more information about this property

Investment Highlights

  • 13 separately established condominium units offered as one acquisition
  • Existing rental income with value-add upside through continued unit renovations
  • DMR (Downtown Mixed Residential) zoning provides redevelopment and mixed-use potential (buyer to verify)
  • Six garage interests provide additional tenant amenities and income potential
  • Walking distance to downtown shopping, restaurants, marina, beaches, and entertainment
  • Several units have been substantially updated, with additional renovation potential

Executive Summary

Westwind combines existing income with thirteen separately established condominium interests, preserving multiple ownership and exit strategies not typically associated with a traditional multifamily acquisition. Offered as a single acquisition, the project provides the ability to continue current operations while retaining the flexibility associated with separate condominium ownership. Located directly across from Don Morse Memorial Park and within walking distance to Lake Chelan, the marina, restaurants, shopping, grocery stores, the Lakeview Drive-In, bowling, recreation amenities, and Link Transit, the property benefits from one of downtown Chelan's most walkable settings. Seller-owned future air rights, six garages, demonstrated renovation upside, and Downtown Mixed Residential zoning provide additional flexibility for future ownership objectives. Buyers may elect to continue operations, enhance income through renovations, pursue individual condominium dispositions over time, hold for long-term appreciation, or independently evaluate future expansion or redevelopment concepts. Buyer to verify all information material to intended use.

Financial Summary (Actual - 2025) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Net Operating Income - -

Financial Summary (Actual - 2025) Click Here to Access

Gross Rental Income (CAD)
Annual $99,999
Annual Per SF $9.99
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual -
Annual Per SF -

Property Facts

Price $3,553,075 CAD
Price Per Unit $273,313 CAD
Sale Type Investment
No. Units 13
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class B
Lot Size 0.52 AC
Building Size 21,000 SF
Average Occupancy 92%
No. Stories 2
Year Built 1956
Parking Ratio 0.76/1,000 SF
Zoning DowntownMixedResidential - High-density residential zoning allowing condos, apartments, multifamily, townhomes, and select commercial uses. Buyer to verify.

Amenities

Site Amenities

  • Courtyard
  • Fiber Optic Internet
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
  • Listing ID: 41113226

  • Date on Market: 2026-06-30

  • Last Updated:

  • Address: 315 W Gibson AVE, Chelan, WA 98816

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}