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Fraser Ridge Apartments 33555 S Fraser Way 69 Unit Apartment Building $16,500,000 CAD ($239,130 CAD/Unit) 3.41% Cap Rate Abbotsford, BC V2S 2B8
Investment Highlights
- 12-storey concrete rental building with 69 residential units and 11 commercial units.
- Located in a thriving urban corridor with quick access to Highway 1 and major arterial roads.
- Situated in a high-demand rental market with a 1% vacancy rate in Abbotsford.
- Nearly $1 million spent on capital upgrades, including a renovated lobby and improved parking.
- Ample on-site parking with 59 stalls, including covered and surface options.
- Close to shopping, dining, healthcare, and Abbotsford International Airport.
Executive Summary
Fraser Ridge presents a rare opportunity to acquire a 12-storey concrete rental apartment building in the heart of Abbotsford, BC. The property features 69 residential units and 11,000 sf of commercial space at grade, offering a diversified income stream. With nearly $1 million invested in capital improvements, including a renovated lobby and upgraded parking infrastructure, Fraser Ridge is well-positioned for both immediate cash flow and long-term appreciation.
Located along South Fraser Way, the property benefits from Abbotsford’s strong economic growth and proximity to Vancouver, making it an attractive investment in one of the fastest-growing markets in the Lower Mainland. The city’s expanding population, robust employment base, and limited supply of concrete rental towers create significant upside potential. This asset offers stabilized net operating income of $584,806 and clear title, making it ideal for investors seeking a secure, income-producing property with future redevelopment possibilities.
Located along South Fraser Way, the property benefits from Abbotsford’s strong economic growth and proximity to Vancouver, making it an attractive investment in one of the fastest-growing markets in the Lower Mainland. The city’s expanding population, robust employment base, and limited supply of concrete rental towers create significant upside potential. This asset offers stabilized net operating income of $584,806 and clear title, making it ideal for investors seeking a secure, income-producing property with future redevelopment possibilities.
Property Facts
| Price | $16,500,000 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $239,130 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.06 AC |
| Cap Rate | 3.41% | Building Size | 66,677 SF |
| No. Units | 69 | No. Stories | 12 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Price | $16,500,000 CAD |
| Price Per Unit | $239,130 CAD |
| Sale Type | Investment |
| Cap Rate | 3.41% |
| No. Units | 69 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.06 AC |
| Building Size | 66,677 SF |
| No. Stories | 12 |
| Year Built | 1969 |
| Parking Ratio | 1.04/1,000 SF |
Amenities
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 69 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
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Fraser Ridge Apartments | 33555 S Fraser Way
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