1909 Ash Street

The Bungalow presents a recently repositioned 38-unit multi-family building located at 1909 Ash Street in Creston, BC. The Property has undergone meaningful improvements and operational enhancements since the owner purchased the property in 2021, now boasting +97% occupancy, healthy turnover allowing strong income growth, surplus floor area offering an exciting opportunity to add +/-5 additional units, and an efficient operational structure emphasizing care-free property management. The building offers functional suite layouts with 73% of units either mostly or fully updated within the last 8 years, attractive on-site amenities including laundry, fitness, storage, library, games room, common living space, outdoor gardens, gazebo and bbq area, and a suite mix that continues to attract consistent tenant demand in a supply-constrained rental market. With demonstrated occupancy stability and strong market rent growth offering further income enhancement potential, this offering represents a rare opportunity to acquire a secure, yield-oriented multifamily asset in one of the Kootenays’ most established and defensive communities. (id:53361)