117 Vermillion Avenue, Princeton, British Columbia V0X1W0
Listing courtesy of Luxmore Realty.
- $1,049,000
- 8,000
- SqFt
- List Price
- $1,049,000
- MLS®
- 10400499
- Days on Market
- 0
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Multi-family
- Living Area
- 8,000
- Lot Size Dimensions
- 0.25
- Lot Size
- 10,890
- Subdivision
- Princeton
Property 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. (id:5764)
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Additional Information
- Ownership
- Freehold
- Basement Features
- Crawl space
- Basement
- Yes
- Subdivision
- Princeton
- Country
- Canada
- Flooring
- Mixed Flooring
- Sewer
- Municipal sewage system
- Roof
- Other, Unknown
- Community Features
- Pets Allowed With Restrictions
- Heating
- Baseboard heaters, Electric
- Lot Features
- Two Balconies
- Stories
- 2
- Lot Size
- 10,890
