Contacts
Avison Young - Vancouver
Avison Young
Avison Young
Avison Young - Vancouver
Avison Young
Property Details
- Property Type Other
- Property Size 9,007 SF
- Units 10
- Date Updated Jun 30, 2026
Avison Young is pleased to present a rare opportunity to acquire a well-maintained, three-storey walk-up apartment building at 2241 Columbia Avenue, Castlegar, BC. The Property comprises 10 all two-bedroom suites, offering an uncommonly uniform suite mix that drives strong tenant demand and stable, long-term income. The building has been thoughtfully maintained and upgraded throughout, featuring 10 spacious two-bedroom suites ranging from 988 sf to 1,024 sf, well above typical market suite sizes. Additional revenue is generated through coin-operated laundry, and ample on-site parking is provided for all units. Situated on Columbia Avenue in the heart of Castlegar, the Property benefits from immediate proximity to schools, parks, restaurants, shopping and everyday amenities —delivering the quality of life that attracts and retains quality tenants. This offering represents a compelling entry point into one of BC’s supply-constrained interior markets. This is a secure, high-yield multi-family asset suited to investors seeking dependable cash flow in a resilient interior BC market.
Reach out to the broker for more info on lease terms and amenities
Highlights
- Individual hot water tanks per suite, eliminating shared system risk
- Poured concrete slab and foundation walls
- Projected Market Net Operating Income: $164,913 (9.21%)
- Revenue-generating coin-operated laundry ($2.00/load) providing ancillary income
- Secured building entry
- Significant mark-to-market opportunity average in-place rents of $1,190/month vs. market rents of $1,800/month, representing $610/suite/month in unrealized upside
- Stabilized Net Operating Income: $96,029 (5.36% cap rate)
- Tenants pay all utilities and cable, minimizing operating costs for the owner
- Three-storey wood-frame walk-up construction (no elevator, lower maintenance costs)
- Torch-on roof replaced in 2008
- Well-maintained landscaping throughout
Getting around
-
46/100
Walk Score ®
-
44/100
Bike Score ®
Location
- City Castlegar, BC
- Zip Code 122