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490 7th Av 14 Unit Apartment Building $3,499,000 CAD ($249,929 CAD/Unit) Kamloops, BC V2C 3T2
Investment Highlights
- Comprehensive renovations completed in 2022–2023, including kitchens, bathrooms, and in-suite laundry.
- Tenants are individually metered and pay their own utilities, reducing operating costs.
- Convenient location in South Kamloops near downtown services, shopping, and transit.
- Concrete floor construction enhances fire safety and minimizes noise transfer between units.
- Secure building with new tenant storage lockers and updated electrical systems.
- Includes 18 parking spaces with carport and street options.
Executive Summary
This rare multi-family investment opportunity in South Kamloops features a well-maintained apartment building with 14 spacious one-bedroom units. The property has undergone extensive upgrades in 2022 and 2023, ensuring modern functionality and reduced capital expenditure for new ownership. Enhancements include a new torch-on roof, in-suite laundry in every unit, fully renovated bathrooms, and updated kitchens in 11 of 14 units. Additional improvements include high-efficiency windows and sliding doors, new hot water tanks, stainless steel appliances in 90% of units, new flooring with durable ceramic tile, and upgraded electrical panels.
The building’s concrete construction between floors provides superior fire separation and sound insulation, complemented by concrete balconies for added durability. Tenants pay their own utilities, with electric baseboard heating and individual hot water tanks in each suite. The property also offers new tenant storage lockers, secure entry, and 18 parking spaces via carport and street parking.
Located in a desirable South Kamloops neighborhood, the property benefits from proximity to downtown amenities, retail, and transit. This asset offers stable income potential and long-term value in a growing market. Financial information is available to qualified buyers.
The building’s concrete construction between floors provides superior fire separation and sound insulation, complemented by concrete balconies for added durability. Tenants pay their own utilities, with electric baseboard heating and individual hot water tanks in each suite. The property also offers new tenant storage lockers, secure entry, and 18 parking spaces via carport and street parking.
Located in a desirable South Kamloops neighborhood, the property benefits from proximity to downtown amenities, retail, and transit. This asset offers stable income potential and long-term value in a growing market. Financial information is available to qualified buyers.
Property Facts
| Price | $3,499,000 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $249,929 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.28 AC |
| No. Units | 14 | Building Size | 9,492 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1970 |
| Price | $3,499,000 CAD |
| Price Per Unit | $249,929 CAD |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 9,492 SF |
| No. Stories | 2 |
| Year Built | 1970 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
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490 7th Av
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