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Westwind Condominium Project 315 W Gibson AVE 13 Unit Apartment Building $3,553,075 CAD ($273,313 CAD/Unit) Chelan, WA 98816



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 | Building Class | B |
| Price Per Unit | $273,313 CAD | Lot Size | 0.52 AC |
| Sale Type | Investment | Building Size | 21,000 SF |
| No. Units | 13 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1956 |
| Apartment Style | Low-Rise | 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. | ||
| 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
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
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Westwind Condominium Project | 315 W Gibson AVE
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