1/11275 Cypress St, Nanaimo
275 Cypress St, Nanaimo, BC V9S5J9
$15.5M total
62,378 SF
Asset Class
Multifamily
Size
62,378 SF
Building class
A
Zoning
RA8 — Medium Rise
$ / SF
$248
Occupancy
89%
Lot Size
0.93 ac
About this property
Cypress Garden Apartments 64 Suite Apartment Building with a well balanced suite mix featuring a unique 3750 sq ft Penthouse boasting breathtaking views. Situated in the Brechin Hill neighbourhood, located steps from the scenic seawall and within walking distance to downtown Nanaimo. This property offers investors the opportunity to acquire a large scale apartment building that has been privately owned and managed for over 35 years. Well maintained receiving numerous capital upgrades. Represents a rare opportunity to acquire a property of scale with strong cash flow potential in one of British Columbia's fastest growing municipalities. (id:66811)
Financial sandbox
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Monthly debt service
$72K
Projected NOI
$589K
Annual cash flow
$-270K
Cash-on-cash
-5.81%
DSCR
0.69
Going-in cap
3.80%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Rent roll (estimated)
| Tenant | Area | Expiry |
|---|---|---|
| Prairie Coffee Roasters | 22,856 SF | 2031-01 |
| Prairie Coffee Roasters | 13,364 SF | 2031-01 |
| Prairie Coffee Roasters | 7,954 SF | 2031-01 |
| Prairie Coffee Roasters | 11,156 SF | 2031-01 |
Area demographics
Trade area within 3 miles of the property.
Population
130,317
Households
55,741
Median income
$132,000
Median age
39.1
Daytime population
145,752
5-yr growth
1.1%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 275 Cypress St, Nanaimo.
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.