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British Columbia
Nanaimo
664 Bruce Ave

$3,950,000

664 Bruce Ave, Nanaimo, BC, V9R 3Y7

MLS® # 1047895

Nanaimo BC, V9R 3Y7

MLS® # 1047895

Property Information:

Colliers is pleased to present the opportunity to acquire Country Gardens Apartments, a 19-suite rental complex situated at 664 Bruce Avenue in Nanaimo, British Columbia (the “Property”).The Property comprises three wood-frame residential buildings on approximately 2.25 acres. It features 19 spacious two-bedroom suites averaging ±1,250 SF, with ground-floor patios, upper-level balconies and in-suite laundry.Located along Bruce Avenue within walking distance of Vancouver Island University, University Village Mall, parks, schools and public transit, the Property benefits from a central location and strong tenant fundamentals. The substantial land holding and R6 – Townhouse Residential zoning provide additional long-term redevelopment potential.The Property offers investors the opportunity to acquire an established multifamily asset with stable occupancy, rental upside and future development optionality.

Property Features:

Annual Tax Amount: $29,814
Built in: 1964
Floor Space (approx): 23750 Square Feet
Lot Frontage: 98010 Square Feet
Lot Size: 2.25 Acres
Ownership: Freehold
Parking Features: On Site
Property Sub Type: Multi Family
Zoning: R6
No. of Parking Spaces: 19

Courtesy of: Colliers, Colliers International (Nan)

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.

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Market Price Trends

Location of 664 Bruce Ave, Nanaimo, BC, V9R 3Y7

Lifestyle
Neighbourhood

Demographic Information of 664 Bruce Ave, Nanaimo, BC, V9R 3Y7

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$96,101.63

Average Number of Children

1.72

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

20.3 %

High school certificate or equivalent

38.29 %

Apprenticeship trade certificate/diploma

7.28 %

College/non-university certificate

15.11 %

University certificate (below bachelor)

0.46 %

University Degree

18.56 %

Commuter

Travel To Work

By Car

85.84 %

By Public Transit

2.18 %

By Walking

9.04 %

By Bicycle

0.34 %

By Other Methods

2.6 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

10.19 %

Houses

89.81 %

Own Vs. Rent