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560 4th St, Courtenay

MLS® #1032955
About this Property

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)

Property Information

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

Interior Details

Bedrooms

3

Bathrooms

3

Living Area

3302 square feet

Architectural Style

Other

Exterior & Lot

Lot Size

5227.0 sqft

Lot Features

Central locationOther
Building & Utilities

Heating

Heat Pump, Baseboard heaters, Forced air, Electric

Cooling

None, Air Conditioned

$1,150,000

For immediate assistance, contact:

Joe Manhas

Personal Real Estate Corporation

604-720-0438
3Beds
3Baths
3302sqft
Listing Courtesy of

Office

eXp Realty (NA)

Mortgage Calculator
$230,000

Loan Amount:

$920,000

Estimated Monthly Payment:

$4,483

This is an estimate for informational purposes only. Consult with a financial advisor.