560 4th St, Courtenay
PRIME INVESTMENT OPPORTUNITY! Turn-key downtown Courtenay triplex generating $81,000 annual gross income with strong tenant history and minimal ongoing maintenance. Excellent cap rate with upside, based on anticipated lower property taxes. Fully permitted renovations with significant capital improvements including a brand new roof (2024) and newly constructed 2.5 bed/2 bath unit (2025) with heat pump and modern finishes. All three units offer in-suite laundry and are separately metered. Property is fully tenanted with large paved parking area, laneway access, and excellent walkability to shops, services, and transit. A stabilized asset with reliable income and future upside through rent optimization and expense reduction. A strong fit for investors focused on dependable cash flow with the ability to optimize returns over time. Attractive to both local and out-of-area buyers looking for a well-positioned asset in a high-demand rental market. Also perfect for multi-generational living. (id:62865)
Status
Active
Year Built
1924
Property Type
Triplex
Ownership
Freehold
Parking Spaces
6
Annual Tax
$12,922
Zoning
Residential/Commercial
Parcel Number
000-321-273
Data Source
Vancouver Island Real Estate Board
Bedrooms
3
Bathrooms
3
Living Area
3302 square feet
Architectural Style
Other
Lot Size
5227.0 sqft
Lot Features
Heating
Heat Pump, Baseboard heaters, Forced air, Electric
Cooling
None, Air Conditioned
$1,150,000
Office
eXp Realty (NA)
Loan Amount:
$920,000
Estimated Monthly Payment:
$4,483
This is an estimate for informational purposes only. Consult with a financial advisor.
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