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1702 SPRUCE Street in Prince George: Van Bow Multi-Family Commercial for sale (PG City Central (Zone 72)) : MLS®# C8038104

1702 SPRUCE Street Prince George V2L 2R4 : Van Bow

Main Photo: 1702 SPRUCE Street in Prince George: Van Bow Multi-Family Commercial for sale (PG City Central (Zone 72))  : MLS®# C8038104banner
$1,400,000
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8038104
Status:
Active
Build. Type:
Low Rise (2-4 stories)
This fantastic 8 unit townhouse complex is fully renovated top to bottom and is in a great central Prince George location near the Victoria Medical Building & hospital. Updates include 8 new kitchens, flooring throughout, roof, and landscaping. This fantastic passive investment requires almost no maintenance as each unit is self contained with no common areas other than parking lot. Current income is approx $90,000 per year with around $26,000 in expenses but there is room to grow revenues as market rents would put the income closer to $110,000 per year.
Sale Type:
Asset
Property Type:
Multi-Family Commercial
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories)
# Units:
8
Year built:
1979 (Age: 42)
Land Use/Zoning:
RM4
Taxes:
$7,009.48 / 2020
HVAC:
Baseboard, Electric
Env Assmt Phase:
None
Cap Rate %:
4.55
Effective Gross Income:
$90,000
Gross Income:
$90,000
Oper. Expenses:
$26,360
Net Operating Income:
$63,639
Original Price:
$1,400,000
Listed by Maxsave Real Estate Services
Data was last updated May 8, 2021 at 04:00 AM (UTC)
Mike Hurrell - PREC*