7 units on 12,200 sq. ft. site
Over 12,200 square feet of quality construction with seven large 3-bedroom units.
Constructed in 2011, each of the seven townhome units are approximately 1,700 to 1,800 square feet in size and offer three bedrooms. The property was constructed to be sold as a strata development, and therefore was built to a higher standard of finish than most rental product. For example, the properties all offer granite counter tops, individual washer/dryers, stainless steel appliances, high ceilings, attractive landscaping, underground sprinklers, and dedicated parking (some with attached carports).
The subject property has been well maintained and well managed. Rental rates have been reviewed regularly and increased where possible. Both water and electricity are individually metered and, given this, the property carries a realistic expense ratio in the low 20% range which in turn generates a capitalization rate in excess of 4.0%. More detailed financial information is available from the listing broker upon request.
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