30 North Shore Rd Lake Cowichan, BC V0R 2G0

Great investment opportunity - See financials in supplements. Also make sure to view virtual tour. You can own this rare 2 storey apartment building situated on the banks of the pristine Cowichan River with gorgeous water & mountain views. Originally built as a 400 seat movie theatre, the property was redeveloped with all the necessary building permits in the early 80's as an apartment building. A total of 13 units with a history of little or no vacancies generate a gross revenue of $128,340.00. The cap rate for this lucrative investment works out to be 5.7% at a price of $124,615 per suite. The suite mix is 2 studio, 7 one bedrooms and 4 two bedrooms. Updated bathrooms, newer carpeting, updated windows, laminate & tile flooring & newer countertops & faucets in the apartments are just some of the many updates. There are 14 parking spaces on site. The property is zoned C-3. It is centrally located in town and within easy walking distance to shops and services.