About This Property
8 Half Duplexes - Each with 3 Bedrooms - Separately Metered - Ground Level - 6.57% CAP Rate - Turnkey Ready! All units fully updated, thoughtfully soundproofed, 4 piece bathrooms, full sized appliances including laundry, individual storage sheds, non-smoking and in excellent condition. The entire property is meticulously maintained and well managed with solid tenancy agreements in place. Prime location in a peaceful neighbourhood on a safe, private, no-through road and only a 10 minute walk or 2 minute drive to town. Consistent 0% vacancy rate as residents enjoy so much natural beauty right from their doorsteps, including private waterfront alongside a lovely creek, as well direct access to the Trans Canada Trail. Very low maintenance as all tenants are responsible to look after their designated portion of yard space, including grass cutting, leaf raking and snow removal. Gentle sloping 2+ acre corner lot. Plenty of parking. Potential for future subdivision. (id:64973)
At $2,495,000 for an 8-unit multi-family property, the price per square foot is likely competitive within the Lake Cowichan market. The property's 6.57% capitalization rate, fully updated units, and prime location make it an attractive investment opportunity for those seeking a turnkey rental property with a strong return on investment potential.
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