For Sale By Owner Inc.
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$799,000
4Plex Revenue Property in a Mountain Paradise
Price:
$799,000
BR/BA:
8 BR, 4 BA
Location:
4777 North Street, Windermere, BC
Description:
A well-built, super-low maintenance 'true' 4-Plex apartment building located on an exquisite, elevated 3/4 acre land parcel, close to Lake Windermere, in the spectacular Columbia Valley in S.E. British Columbia, nestled between the Rocky Mountains and the Purcell Mountains. The building features 4 individual 2-bedroom suites, each with separate entrances and parking. There are 2 "upper suites" and 2 "lower suites" contained in a simple, rectangular 'walkout'-style building. Each suite has 2 bedrooms , one bathroom, a living room and a kitchen-dining area. Both lower suites also have a separate laundry/storage room, while both upper suites have their laundry area off the entrance foyer-hallway. The suites are all approximately 750 sq. ft., for a total living space of 3000 sq. ft. Each suite has 'front' entrance door and a 2nd 'rear' door off the living room. All 4 suites offer stunning views in all directions, and have upgraded interiors, fixtures and appliances. With all-electric heat and the recent upgrades, the building is essentially carbon-free and energy efficient for the next 25 years plus. Why not live in one of the suites and let the other 3 suite's rental income pay for everything, while the property's value appreciates ?!? The building, in general, is in excellent condition and was designed and purpose-built as a 4-plex revenue property originally, as opposed to a converted duplex, renovated house or add-on. A brand new, fully-guaranteed roof was just installed in July of 2023, along with all-new continuous eaves trough, downspouts and rain barrels. All 24 of the original window units have just been replaced with brand new, Energy Star-rated Jeld-Wen vinyl window units, over the summer of 2023. Each upper suite has a new, elevated 8' x 16' entrance deck and one of the two 5' x 10' rear decks has also been replaced in the fall of 2023. (all decks are constructed with new pressure-treated lumber) The elevated .70 acre lot is perched above the hamlet of Windermere, B.C. and conveniently located between Lake Windermere and B.C. Highway 93/95, in the heart of the Columbia Valley. Windermere is located a short, 20 minute drive from Invermere, B.C., which is a much larger 'city' and bustling business centre, with lots of shopping and services. The Columbia Valley is a vibrant and growing 4-season mountain resort destination, located a short and breathtaking 3 hour drive southwest of Calgary. The grounds are easy to maintain, with minimal lawn or building maintenance required. The septic system is in excellent condition and was recently pumped out in October of 2023. Water is supplied by The Regional District of East Kootenay and refuse is currently picked up twice monthly by the private contractor that supplies the bear-proof bin on the property. All 4 suites are currently rented to stable/mature, full-time, long-term tenants who live there year-round. Because of a severe lack of full-time/year-round rental accommodations in the Columbia Valley, there is an ongoing demand for rental suites like these and there is always a "waiting list" of potential tenants who are hoping for a vacancy. A turnkey rental property such as this seems to be well-positioned at this time, as the current "housing crisis" becomes a growing problem across Canada, and especially in this area. The current Calgary-based owner/landlord has owned and operated the property for over 20 years and is now retired and motivated to sell due to a desire to relocate. Beyond the existing/ongoing rental income & positive cash-flow opportunity, it should also be noted that the property is already zoned 'R-2', for multi-unit residential housing, for unlimited future development potential. Additional "Potential Buyer Options": Consider buying the property with 3 other similarly interested parties, such as other families, couples or individuals, and operate it as a 'Strata' Property and use the 4 suites as personal "condo-style" recreational properties in the incredible Columbia Valley ! Safe & secure, low initial cost and low maintenance costs for less than $200K per suite ! Consider buying the property and converting as many of the suites as you desire to 'Air B'nB' / VRBO type short term rentals, to access the lucrative daily-weekend-weekly vacation rental market in a true Four Season vacation destination that continues to grow in tourism-based popularity. Conversion could be completed gradually or quickly, on your time table. Consider buying the property and use all, or some of the suites to create your own "Family Compound" in the mountains, and allow your family members or friends to "buy in" or simply use the suites and property as you see fit.
Property Type:
Real Estate
Sq feet:
3,000 sq. ft.
Year:
1980
Amenities:
Parking
For sale by:
By Owner
Posted:
November 9 2023 on For Sale By Owner Inc.
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More About this Listing: 4Plex Revenue Property in a Mountain Paradise
4Plex Revenue Property in a Mountain Paradise is a Eight Bedroom 4.5 Bath Property for Sale at 4777 North Street in Windermere BC. Find other listings like 4Plex Revenue Property in a Mountain Paradise and listings near 4777 North Street by searching Oodle Classifieds for Eight Bedroom 4.5 Bath Property for Sale in Windermere BC.
4Plex Revenue Property in a Mountain Paradise is a Eight Bedroom 4.5 Bath Property for Sale at 4777 North Street in Windermere BC. Find other listings like 4Plex Revenue Property in a Mountain Paradise and listings near 4777 North Street by searching Oodle Classifieds for Eight Bedroom 4.5 Bath Property for Sale in Windermere BC.