Osoyoos Manor
7807 Gravenstein Drive, Osoyoos, BC
FOR SALE
Property Overview
- Address 7807 Gravenstein Drive, Osoyoos, BC
- Year Built 1965
- Lot Size 19,406 sf
- Building Size ~13,745 sf
- Stabilized Net Operating Income $129,452 (4.82% cap rate)
- Market Stabilized Net Operating Income $178,272 (6.64% cap rate)
- Pricing Guidance $2,685,000 ($179,000 per door)
Avison Young is pleased to present Osoyoos Manor, a rare opportunity to acquire one of the very few rental apartment buildings in a highly desirable and supply-constrained market. This 15-unit property has benefited from over $300,000 in recent capital improvements, including 8 fully renovated suites including the addition of dishwashers. Osoyoos Manor is located just 2 blocks from Osoyoos Lake and features 28% upside to market rents and the ability to increase revenue by renovating the remaining 7 suites.
Investment highlights
Excellent suite mix (9 one-bedroom & 6 two-bedroom suites)
Rental revenue is 28% below market offering significant rental upside
Completed capital upgrades in excess of $300,000 including 8 renovated units, electrical enhancements, refreshed common areas, new air conditioning units and more
Revenue generating laundry room with 2 washers & 2 dryers
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