45665 McIntosh Drive
Chilliwack, British Columbia
Building
Stats
- Size (Ac) 0.76
- Zoning R5 - Medium Density Residential
- Stabilized Net Operating Income $238,054
- Price $3,995,000 (5.96% cap rate)
Overview
Avison Young is pleased to market for sale 45665 McIntosh Drive, (the “Property”) located in Chilliwack BC. This 33,205 square foot property sits just off of the main arterial, Yale Road, while maintaining proximity and ease of access to Downtown Chilliwack and the Trans-Canada Highway. The Property is currently improved with a 23-room independent living facility, plus one on-site caretaker unit. The Property can be developed under the existing zoning up to 155 residential units per hectare (~48 units) or up to 225 units per hectare if the development includes small unit apartments to a maximum of 549 square feet (~69 units).
Highlights
No rezoning required for development
Existing use and income in place from independent living housing
Central, accessible location
Canada continues increased immigration, fueling housing demand
Average market rental rates achieving $2.27 psf
Recent new strata sales achieving more than $700 psf
