Description
Available for sale is 1810 First Street located in Fruitvale, BC – an exceptionally rare multi-family investment and development opportunity completely renovated in 2021 and offering strong historic occupancy and tremendous upside potential. Featuring four existing suites, each with 2-beds and 1 bath, and boasting RM2 (Medium Density Multiple Housing) zoning entitlements providing immediate redevelopment potential for an additional two suites, the property is extremely well positioned for investors and developers to leverage a stable income base and capitalize on exciting development upside. Located in an established residential neighbourhood on First Street in Fruitvale – one of the Kootenays’ most desirable family-oriented communities with a charming downtown atmosphere that is conveniently located just 15 mins to Trail, 30 mins to Castlegar, and 50 mins to Nelson. Key renovation features include brand new exterior cladding, new windows, new doors, new blinds, keyless entry, heated floors, LED lighting, new washer/dryers, new tile flooring in kitchens, new vinyl/laminate flooring in living areas and bedrooms, new hot water tanks, and all new stainless steel appliances. Fruitvale’s residential tenancy market is one of the strongest in the region – with near-zero availability that has consistently pushed rental rates upward, with market rents for furnished 2-bedroom units recently achieving +$2,400/month. (id:56537)