Listed, Curated, and Sold by Eric

207 110 Baxter Avenue
Kitimat Kitimat V8C 2N9

$349,000
Residential Attached beds: 2 baths: 2.0 1,050 sq. ft. built: 2014

Main Photo: 207 110 Baxter Avenue: Kitimat Condo for sale
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Status:
Active
Prop. Type:
Residential Attached
MLS® Num:
EXCLUSIVE
Bedrooms:
2
Bathrooms:
2
Year Built:
2014
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.
Price:
$349,000
Dwelling Type:
Apartment/Condo
Property Type:
Residential Attached
Home Style:
2 Storey
Bedrooms:
2
Bathrooms:
2.0
Year Built:
2014
Floor Area:
1,050 sq. ft.
MLS® Num:
Exclusive
Status:
Active
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Proforma - 207-110 Baxter Ave., Kitimat - May 2023

Listed by Engel & Völkers Vancouver (Kerrisdale)
Data was last updated June 2, 2023 at 09:05 AM (UTC)
ERIC COULOMBE
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