Kitimat Apartment Portfolio 1 Multifamily Properties Offered at $32,480,757 CAD in Kitimat, BC

Macdonald Commercial Real Estate Services Ltd. is pleased to present the exclusive opportunity to acquire the Kitimat Apartment Portfolio, a premier multifamily investment consisting of 263 rental units across nine apartment buildings strategically located throughout Kitimat, British Columbia. Comprising the Sandpiper Apartments, Sandalwood Apartments, and Quatsino Apartments, the portfolio provides immediate scale in a market characterized by strong economic fundamentals, limited rental supply, and sustained housing demand.
The portfolio encompasses approximately 261,310 square feet of gross building area situated on 15.28 acres of multifamily-zoned land, offering a diversified mix of conventional rental housing and furnished workforce accommodation. The properties have been well maintained and benefit from ongoing capital investment programs, while also presenting meaningful opportunities for future value creation through suite modernization, revenue optimization, and strategic operational enhancements.
Kitimat has emerged as one of Canada’s most significant industrial and energy investment corridors, supported by billions of dollars in committed capital from major projects including LNG Canada, Cedar LNG, Rio Tinto, and associated marine, infrastructure, and industrial developments. These long-term investments continue to generate substantial employment growth and long-term workforce demand, underpinning the need for both traditional rental housing and premium furnished accommodations. The portfolio currently offers an attractive 7.4% in-place capitalization rate, with additional upside through future lease-up, continued suite renovations, and operational optimization.