About This Property
Zoned for a 20 unit, 3 storey ground-oriented townhouse development and has been endorsed by the District for a 39 unit apartment complex as well. Sparwood is in need of multifamily residential accommodation with a vacancy rate of 3.4 % as of 2021 down significantly from 19.2% in 2017. Sparwood has a high demand for workers created by the expansion of Teck Coal the major industry of the area and the workers need accommodation. (id:64973)
The price of $998,000 for a 1.1-acre lot zoned for a 20-unit townhouse or 39-unit apartment development in Sparwood represents a relatively attractive value proposition, given the significant rental demand from the town's growing workforce. This property is best suited for experienced developers looking to capitalize on Sparwood's tight housing market and lack of multifamily supply, with the potential for strong rental yields and future appreciation.
Property Details
Location
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