Properties

Hummingbird Estates Development

$3,850,000

Overview

  • Property Type : Multifamily
  • Subject Size : 0 ft²

British Columbia, Canada

  • 71 Rental and 30 RV Units

  • Over $700,000 Potential Net Income

  • Convenient Location

The property is currently being developed as a 71 Rental manufactured home park development with the ability to house an additional 30 RV units. It will be the only developed, zoned, permitted and vacant property for modular homes available in this northern community.

The park closed Aug 31, 2014, and is now ready for demolition, allowing restoration and upgrades to be completed. The current zoning allows the park to reopen once upgrades are completed with rents reflective of the areas ongoing demand. This property is strategically located “walking distance to the main access road” close to one of the largest proposed industrial projects in Canada. Re-development can start immediately.

The complete park re-development will take about 4-7 months, however as the rows are completed they will be rented in stages as sites become available.

30 RV sites will be leased at $35/ day and are expected to be occupied during the construction phase year around; when construction drops the RV sites can be removed and the infrastructure can facilitate an additional 5 homes.

A large employer has expressed interest in leasing the entire property.

Property Type : Multifamily
Year Built : 0
Sale Price : $3,850,000
Additional Rent : $0
Strata Fee : $0
Subject Size (ft, integer) : 0 ft²
Lot Area - ft2 : 0 ft²
Lot Area - Acres : 7.2
Lot Frontage : 0 ft
Lot Depth : 0 ft
Zoning : MH-1
Taxes : $6,138.71
Tax Year : 2016
Gross Income : $0
Expenses : $0
Net Income : $0
Transaction Type : Sale
Area Map Shortcode : [huge_it_maps id="2"]
For More Details
EUGEN KLEIN
CHRIS HAYNE

RECENT KLEIN GROUP SALES