For Sale: 117 Vermillion Avenue, Princeton, BC - REW
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$1,049,000
0 bd • 0 ba • 8000 sf • Multifamily
117 Vermillion Avenue
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$1,049,000
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117 Vermillion AvenuePrinceton, BC, V0X 1W0

  • 0 Bed
  • 0 Bath
  • 8000 Sqft
  • Multifamily

About this home

AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside. An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units. Many suites have kitchen and bathroom upgrades as well.The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys. There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value. (id:63626)
Listed by: Faizal Tejani, Luxmore Realty

Home facts and features

Price details
List Price
$1,049,000
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Home facts
Bedrooms
0
Full Bathrooms
Parking Details
Rear, Street
Property Type
Multifamily
Lot Size
10890 ft²
Depth
Year Built
Built in 1929 (97 yrs old)
Title
Freehold
Exterior Finish
Other
Heating Type
Baseboard heaters, Electric
Basement Details
Crawl space
Features
Two Balconies
Appliances
Hood Fan, Oven, Oven - Electric, Washer & Dryer
Agent details
Primary Agent
Primary Broker
Luxmore Realty
Listing details
Days on REW
1 Day
MLS® Number
10400499
Source
Canadian Real Estate Association
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Purchase Price
Mortgage Total
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Amortization
25 Years
Interest Rate
3.99%

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The displayed rates are provided as guidance only, are not guaranteed, or are to be considered an approval of credit. Approval will be based solely on your personal situation. You are encouraged to speak with a Mortgage Professional for the most accurate information and to determine your eligibility.

Property Insights

Princeton Secondary School
  • Public
  • 8 - 12
John Allison School
  • Public
  • Pre-K - 3
Vermilion Forks Elementary School
  • Public
  • 4 - 7
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Faizal Tejani
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778-999-9454
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