1801 CHAPMAN Street

Description

1801 Chapman Street (2 titles) presents a premier acquisition opportunity for an occupied, 18-unit multifamily asset in the expanding Southern Interior hub of Merritt, BC, generating approximately $200,000 in gross annual rental revenue. Repositioned from a hospitality property under versatile C-6 zoning, this stabilized asset offers immediate, defensive cash flow paired with a distinct value-add profile. Strategically located steps from Merritt's downtown commercial core, the property benefits from high-walkability transit access, surface parking, common coin-operated laundry, and select renovated suites. New ownership is positioned to capture substantial rental upside and optimize Net Operating Income (NOI) through suite modernization and proactive asset management, all while capitalizing on the region's historically low vacancy rates, strong macroeconomic fundamentals, and long-term redevelopment potential. Updates include; roof in 2020 & 2021 fasteners replaced, seams caulked and resealed, vent flashing and trim replaced, new paint and guards, 100% sheet metal (no torch on present), 2020 new boiler & 2022 domestic hot water boiler added, 2020 to 2022 water lines were replaced with PEX, sewer line was replaced with ABS. Parking lot re-surfaced in 2021. Call the listing agent today for more information. Can be sold as either a share sale or asset sale. (id:65701)

Property Details