The Woz Blog

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New property listed in KEREMEOS

I have listed a new property at 716 3RD AVE in KEREMEOS.
INVESTOR ALERT - Be a land baron for under 500K ... 4 two-bedroom and 2 one-bedroom units on 2 levels. 1974 construction on a .331 AC lot. Well organized property with tons of future potential. Metal roof, 20 years old, new on demand hot water system 2 years old, Entry is controlled from enter phone, Electrical is the responsibility of the tenants, parking is ample and open. Storage available for all units. Clientele currently mostly seniors with S.A.F.E.R rent subsidies, many long term residents. City water, city sewer. Private lot with tall hedges. Investment-wise, Cap rate in the range of 6% and with increase in rents you will be laughing all the way to the bank. Some upgrades may be required. This is a smart opportunity worth looking into. (id:2493)