117 Vermillion Avenue
Princeton, British Columbia
MLS® 10400499
$1,049,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- 10400499
- Bedrooms
- —
- Bathrooms
- —
- Year built
- 1929
Listing description
AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside.
An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units.
Many suites have kitchen and bathroom upgrades as well. The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys.
There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value.
Property summary
- MLS® number
- 10400499
- Property type
- Multi-family
- Building type
- Multi-Family
- Square footage
- 8,000 sq ft
- Title
- Freehold
- Land size
- 0.25 acres
- Built in
- 1929
- Parking
- Rear, Street
- Days on market
- 6 days
Features & details
- Heating
- Baseboard heaters, Electric
- Basement
- Crawl space
- Flooring
- Mixed Flooring
- Appliances
- Oven - Electric, Oven, Hood Fan, Washer & Dryer
- Exterior features
- Other
- Lot features
- Two Balconies
- Community features
- Pets Allowed With Restrictions
What would this home cost you?
Based on the $1,049,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Luxmore Realty, Richmond.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.