+/- 39,450 ft2
Terrace View Apartments is located in the lively community of Campbell River. This three storey 50-unit rental apartment building is positioned on 1.25 acres of land overlooking downtown
Campbell River and the ocean. This building has a fantastic unit mix of large 1, 2 and 3 bedrooms and every unit has views of the water and downtown and outdoor patios. The location is walking distance to Downtown Campbell River, schools, transit and a short drive to the ocean and outdoor adventures. The building has been very well maintained over the years, and has lower maintenance cost. Campbell River has a .05% vacancy rate and there is significant upside to the rents in this building. Currently the rents are 20% under market and fully stabilized and this building will achieve a 6.6% cap rate.