If you have been looking for an amazing apartment building to add to your portfolio, this 21 unit apartment building in PRINCE GEORGE  is fully occupied, never has a vacancy & has great cash flow. Darcy & Denise are pleased to present this unique opportunity to acquire  751 Afton Place, where pride of ownership shows. Meticulously maintained, with no deferred maintenance, it has a great mix of bachelor,  1 & 2 bedroom suites. It is ideally-situated minutes from shopping, the university, the college, on bus routes & in a highly desired  family neighborhood.

21 Units – Already fully occupied.

• 11 – 2 bedroom units, 9 – 1 bedroom units, 1 bachelor unit
• Net income over $185,000 annually (potential for $220,000)
• $500,000 in new improvements completed
• Large Parking lot and coin laundry on every floor
• new windows, new patio doors, new furnace
• expenses are low and maintenance is minimal
• minutes from shopping, University, College and on bus route
• 5% cap rate with potential for higher and no vacancies.

The current owner has spent approximately $500,000 in capital expenditures including triple pane windows, double pane patio doors, a new engineered air AHU gas furnace, 10 units have been completely renovated, 3 units have been partially renovated, with most of those earning excellent rents & many other improvements during the course of their ownership. Each unit has their own hot water tank & is separately metered with 100 amp for electricity which the tenants pay for. Due to the design & capital expenditures, expenses are low & maintenance is minimal. Afton Place could be managed remotely. There is 1:1 parking with a lot of visitor parking as well. There is coin-laundry on each floor which is a great perk for the tenants & a great revenue stream. Rarely will you find a building to this standard where the full occupancy is great tenants. It’s no wonder, it is one of the most “in demand” rental buildings in Prince George. With a strong cap rate of 5%, little capital expenditure needed in the near future & lower than usual operating costs, this turn key asset will generate immediate cash-flow. Rental increases in conjunction with market growth, will let a savvy investor have the opportunity for a projected cap rate that will be higher. Here is the opportunity to get into the red hot multifamily rental market in Prince George.

This could be your chance to own a cash-flowing multi-family apartment building in Prince George where we have a diverse local economy and a stable real estate market.