RSS

New property listed in Kitimat, Kitimat

New property listed in Kitimat, Kitimat

I have listed a new property at 207 110 Baxter AVE in Kitimat. See details here

Approx. 36 unit 7yr old complex in a very nice, quiet, residential part of town, with the property backing onto Crown land. 5 small buildings of about 6 units each, all very close to 950-1,050sf in size; each of these 5 buildings has 2 'rancher' units on the bottom with 4 2-level units above or on end. Each unit has 2 outside parking and 1 locker. Modern finishes. Hardiboard cladding on a cavity-wall envelope ('rainscreen'), sloped roofs; very simple complex with no shared boiler/plumbing system, elevators, parkade, amenities, etc.. Vast majority are rented out and owned by non-local owners (INCLUDING one owned by myself; full disclosure). Contingency of over $100k, Depreciation Report being done in 2021. Strata council consists of two multi-unit owners and a local property manager who owns in the complex. Rent history in complex: historically, rents have ranged from $1,500~ (unfurnished, back in '14) to $3,600~ (multiple units rented furnished to LNG Canada in 2016). Fully-furnished 'executive' rentals over the last few years have ranged from $2,600-$3,200/mo, with some landlords including utilities (avg. $200/mo over the year including internet). Unfurnished units currently range from $1,600 long-tenured to $3,000/mo much more recently to Rio Tinto, Fluor, or LNG-C) Median prices for these units have settled consistently in the $330k-$350k range over the last year and a half, but likely rising due to how high rents have become. Strata fees are in the $220/mo range and property taxes in the $2,200/yr range. A local furniture company in Terrace has a full furniture package for these units for approx. $8,000 including delivery and assembly. Sundries (tableware, tv, lamps, etc.) typically run about $1,000. From vacant/empty/clean to fully furnished can be estimated at $9,000, comfortably.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.