Property Overview

  • Status
    Sold
  • Address
    Garden Apartments
    9124 Charles Street
    Chilliwack, BC
  • Neighbourhood
    Near Downtown Chilliwack
  • # of Units
    24
  • # of Storeys
    2
  • Year Built
    1971
  • PID
    008-599-653
  • Lot Size
    58,065 SQFT
  • Zoning
    R5
  • Price
    $2,250,000
  • Opportunity

    Garden Apartments presents investors the opportunity to acquire 100% freehold interest in a 24-unit apartment and townhouse rental complex located near the heart of Downtown Chilliwack, BC. Sitting on an over 58,000 square foot lot, this complex is made up of a mix of 12-one bedroom apartments and 12-two bedroom townhouses. Garden Apartments gives investors an opportunity to enhance revenue and overall yield by renovating and modernizing units upon tenant turnover.

    Location

    The Property is located on Charles Street near Downtown Chilliwack. The Downtown district is the economic hub of the city, with a total of 287 businesses that range from small, traditional shops, to large retail stores along Yale Road, just blocks from the Property.

    The City of Chilliwack is committed to developing a pleasant and dynamic community around Downtown, by improving its walkability and encouraging community and craft events, farmers markets, and historical and cultural activities.

    The neighbourhood offers plenty of options for dining and entertainment, along with easy access to vital facilities such as the Chilliwack General Hospital, Chilliwack Cultural Centre, Chilliwack Secondary School, and Fraser Valley Distance Education School.

    Investment Highlights

    • Large 58,065 square foot lot
    • Mix of 12-one bedroom apartments and 12-two bedroom townhouses
    • Multiple capital expenditures recently completed
    • Potential to renovate units and increase revenues upon tenant turnover
    • Located near the heart of Downtown Chilliwack
    • Easy access to an array of public transportation
    • Close proximity to a wide-variety of services, amenities, restaurants, and shopping
    David Venance
    Executive Vice President

    David Venance

    Property Location