Property Overview

  • Status
    Sold
  • Address
    Crest Apartments
    1285 Martin Street
    White Rock, BC
  • # of Units
    29
  • # of Storeys
    3
  • Year Built
    1977
  • PID
    005-006-627
  • Lot Size
    17,334 SQFT
  • Zoning
    RM-2
  • Price
    Please Contact Listing Agents
  • Opportunity

    An excellent opportunity to acquire 100% freehold interest in “The Crest Apartments” located at 1285 Martin Street in White Rock, BC. The offering includes 29 rental units situated on a bluff overlooking the ocean on approximately 17,000 sf of land. The offering presents multifamily investors the highly sought-after opportunity to add value and achieve revenue upside.

    Location

    • Southwest corner of Martin Street and Roper Avenue
    • Two blocks west of the retail node on Johnston Road and three blocks south of the Regional Semiahmoo Shopping Centr
    • Very central location lends tenants short walking distances to several community amenities and services such as White Rock Elementary School, City Hall, Fraser Valley Regional Library, and the “Five Corners Shopping District”
    • Proximity to the Peace Arch Hospital

    Investment Highlights

    • Located in one of the most desirable seaside municipalities in British Columbia which has a very low vacancy rate (0.8%) giving investors secure and stable cash flow
    • Professionally managed and maintained lending outstanding curb appeal, internal showing, and desirable tenants
    • Excellent opportunity to enhance the property’s overall yield through a rental unit modernization program
    • Newly replaced roof
    • Desirable unit mix of large bachelor, 1-bedroom, and 2-bedroom units
    • South facing units boast spectacular ocean views
    • All units have a balcony, access to a storage locker, and an underground parkade stall
    • Strategic location for rental tenants; 91/100 Walk Score
    • Suffice scale to justify professional property management but small enough for an owner to self manage and increase yield
    David Venance
    Executive Vice President

    David Venance

    Property Location