Crest Apartments
1285 Martin Street

SOLD

An excellent opportunity to acquire 100% freehold interest in “The Crest Apartments” located at 1285 Martin Street in White Rock, BC. The offering includes 29 rental units situated on a bluff overlooking the ocean on approximately 17,000 sf of land. The offering presents multifamily investors the highly sought-after opportunity to add value and achieve revenue upside.

Location

• Southwest corner of Martin Street and Roper Avenue
• Two blocks west of the retail node on Johnston Road and three blocks south of the Regional Semiahmoo Shopping Centr
• Very central location lends tenants short walking distances to several community amenities and services such as White Rock Elementary School, City Hall, Fraser Valley Regional Library, and the “Five Corners Shopping District”
• Proximity to the Peace Arch Hospital

Investment Highlights

• Located in one of the most desirable seaside municipalities in British Columbia which has a very low vacancy rate (0.8%) giving investors secure and stable cash flow
• Professionally managed and maintained lending outstanding curb appeal, internal showing, and desirable tenants
• Excellent opportunity to enhance the property’s overall yield through a rental unit modernization program
• Newly replaced roof
• Desirable unit mix of large bachelor, 1-bedroom, and 2-bedroom units
• South facing units boast spectacular ocean views
• All units have a balcony, access to a storage locker, and an underground parkade stall
• Strategic location for rental tenants; 91/100 Walk Score
• Suffice scale to justify professional property management but small enough for an owner to self manage and increase yield