REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,350,000
Est. payment | /mo
0.83 Acres Lot
$ 1,350,000
Est. payment | /mo
0.83 Acres Lot
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Errington/Coombs/Hilliers
MLS® Listing ID 1028092
Lot Size 0.830 Acres
Acres 0.83
Property Sub-Type Freehold
Property Description
Investment property of .82 Acres with 9 rentable single tenant units with a high yield income asset (7-10% Cap Rate. This 3 title parcel which can not be subdivided is only 5 minutes to downtown Parksville and is in great condition. The Current Owners have expended time and energy over 14 years into maintaining and repairing as required and have skillfully built a cohesive group of excellent, mostly contented, tenants with an almost guaranteed income for the owner of $75,000 net of expenses per year. The homes consist of a Fourplex, a Duplex with Storage Room, a Double Wide Mobile home, a Single wide mobile home and a Cabin. There is also a communal Laundry Building. There is enough water to cover all of the Homes and buildings and also service 3 Allsbrook properties with legal parameters established and documented by Heath Law. There are 3 Septic Fields and 3 separate tanks. The area is well treed providing green aspects, shade and privacy. Tenants have established gathering, relaxing and cook-out spaces as well as play space. The zoning is R3 Village Residential 3. The current use is and has always been Legal Non Conforming. It could not be rebuilt to 9 units in the event of a fire but this zoning does allow for ''Care Services for 10 persons'' as well as ''Accessory Buildings and Structures''. The logistics of showing individual or all units will require time and negotiation. Please feel free to phone your favourite residential or Commercial Realtor to arrange. with the Listing Agent. (id:24570)
Location
Province BC
Zoning Non-conforming
Rooms
Kitchen 0.0
Interior
Cooling None
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 15
Private Pool No
Others
Ownership Freehold
Listed by RE/MAX First Realty (PK)
Nearby Locations
GET MORE INFORMATION