NAI Commercial 1075 West Georgia St, Suite 1300

Vancouver, BC V6E 3c9 +1 604 683 7535 naicommercial.ca

Michael Marckwort, Investment Broker 604 691 6638 mmarckwort@naicommercial.ca

HighlightsOpportunity to purchase 24 two-storey townhouse units in five buildings.

The townhouse complex is located in a central downtown location. Great

opportunity to complete renovations and realize the up-side.

3152 Pearson Road, Houston, BC

FOR SALE24-Unit Rental

Townhouse Complex

Opportunity The subject property is comprised of 24 rental units in five two-storey buildings. Eight of the units are currently occupied, and 16 of the units are in need of renovations. This is a golden opportunity for a buyer to renovate the remaining units and earn the increased rental rates once the improved units are leased. The site benefits from a central downtown location in proximity to all amenities.

Location Welcome to the ‘Steelhead Capital’ of BC, home of the world’s largest fly fishing rod. With a population of approximately 3,600, Houston is a forestry, mining and tourism community conveniently located halfway between the larger northern cities of Prince George and Terrace. Nestled in the beautiful Bulkley Valley, and with a plethora of walking and hiking trails through the area, Houston is home to some of BC’s finest outdoor recreational opportunities.

Building Features � Building built in 1970’s (about 40

years old)

� Two-storeys with full, unfinished basement

� Hydro & heat expenses are covered individually by each tenant

� Professionally managed

� Eight units completely renovated and fully leased

� Seven units 80% renovated and vacant

� Nine units with window and exterior renovations only

IncomeCurrent Rent Projected

Gross Income $67,200 $201,600

Expenses

Accounting & Legal $1,000 $1,000

Insurance $12,000 $12,000

Property Manager $3,360 $10,080

Property Taxes $7,000 $7,000

Main. & Repairs $3,360 $10,080

Normalized Expenses $26,720 $40,160

Net Operating Income $40,480 $161,440

Cap Rate 5.2% 15.8%

Price Per Door $32,292 $32,292

List Price $775,000

Cost to Renovations $250,000

Total Costs $1,025,000

Property DetailsRent Roll ($700/mo/unit)

Current Projected

8 Units Renovated $5,600 $5,600

7 Units Part-

Renovated$4,900

9 Units Unimproved $6,300

Annual Total $67,200 $201,600

Suite Mix & Area

Three-bedrooms 20 units 1,152 sf each

Four-bedrooms 4 units 1,416 sf each

Total 24 units 28,704 sf

Site Size2.31 acres

ZoningRM-4 (Multi-Family Residential)

Property Tax (2017)$7,000

FinancingClear Title

Asking Price$775,000

3152 Pearson Road, Houston, BC

NAI Commercial 1075 West Georgia St, Suite 1300

Vancouver, BC V6E 3c9 +1 604 683 7535 naicommercial.ca

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.

Michael Marckwort, Investment Broker

604 691 6638 mmarckwort@naicommercial.ca

HAGMAN CRES.

HIGHWAY 16

PEARSON ROAD

MOUNTAINVIEW

DRIVE

SOURCE: Google

SUBJECT PROPERTY

SUBJECT PROPERTY

TERRACE

VANCOUVER

PRINCE GEORGE