1098 Wilson Crescent
- 42 645 Sq Ft
- Available Space
- 42 645 Sq Ft
- Opportunity Type
- CAD 6,950,000
- Related Links
JLL is very pleased to exclusively present investors a truly rare opportunity to acquire 100% freehold interest in Tantalus Manor, an existing multifamily property centrally located in the rapidly growing seaside and mountain community of Squamish, B.C. The unprecedented 0% vacancy rate, in-migration of new residents, and the subsequent dramatic rise of home ownership entry cost makes this a very strategic investment for multifamily investors.
- Massive revenue upside potential
- Proximity to the Squamish downtown core and business district makes it an ideal location for tenants to access key services and amenities
- Desirable suite mix of spacious units , an elevator, ample parking, and balconies will attract a diverse array of potential tenants
- Property is well-managed by a professional third party property management company and long-term resident caretaker
Current rents are 20% below CMHC average rents and 50% below market rents which provides investors significant value-add and subsequent revenue upside potential. The net operating income can potentially be doubled through a comprehensive building renovation and re-leasing program the short term. The long-term opportunity is to eventually unlock the potential under latent land value via redevelopment of the property on the approximate 40,000 sf lot to a higher density given its proximity to the downtown core.