
Palace Place | 397 5th St
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Palace Place 397 5th St
39 Unit Apartment Building $16,714,373 USD ($428,574 USD/Unit) 3.54% Cap Rate Courtenay, BC V9N 1J9



EXECUTIVE SUMMARY
A unique opportunity to acquire a brand-new 39-unit rental apartment building with four ground floor commercial units in downtown Courtenay, BC. The property sits on a 13,455 square foot corner lot. The property qualifies for the Courtenay Property Tax Exemption, saving approximately $89,700 annually.
PROPERTY FACTS
Price | $16,714,373 USD | Apartment Style | Mid-Rise |
Price Per Unit | $428,574 USD | Building Class | B |
Sale Type | Investment | Lot Size | 0.34 AC |
Cap Rate | 3.54% | Building Size | 32,667 SF |
No. Units | 39 | No. Stories | 4 |
Property Type | Multifamily | Year Built | 2024 |
Property Subtype | Apartment | Parking Ratio | 0.92/1,000 SF |
Price | $16,714,373 USD |
Price Per Unit | $428,574 USD |
Sale Type | Investment |
Cap Rate | 3.54% |
No. Units | 39 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid-Rise |
Building Class | B |
Lot Size | 0.34 AC |
Building Size | 32,667 SF |
No. Stories | 4 |
Year Built | 2024 |
Parking Ratio | 0.92/1,000 SF |
UNIT AMENITIES
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Fitness Center
- Maintenance on site
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (72)
ZONING
Zoning Code | C-1 (Commercial One Zone) |
C-1 (Commercial One Zone) |
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Palace Place | 397 5th St
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