235 Mt Benson Street, Nanaimo
Two blocks to the Harbourfront walkway
Newcastle Apartments is a well-maintained 11-suite apartment building located in one of Vancouver Island’s emerging cities – Nanaimo. Situated on a corner 8,712 SF site only two blocks to the Harbourfront walkway and adjacent to the Nanaimo Yacht club.
With population growth, declining vacancies and increasing pressure on rents, Newcastle Apartments is well-poised to capitalize on the growing demand for rental accommodation.
- 11-suite three-storey wood-frame apartment building built in 1960
- Excellent suite mix of 6 one-bedrooms and 5 two-bedrooms—above average in size
- Features tenant storage lockers, laundry facilities and oak hardwood floors (9 suites)
- Parking: 11 surface stalls
- Rent includes heat, hot water and basic cable
- Ongoing capital upgrades program
- Situated on a corner 8,712 SF site, within two blocks to the Harbourfront walkway and adjacent to the Nanaimo Yacht club
- Strategically located at the convergence of Central Nanaimo, the University District and the Old City neighbouhood
- Roof: replaced (Dec 2015)
- Hot water tank: Rinnai on-demand hot water system (2016)
- Boiler: replaced (2015)
- Windows: double-pane vinyl-frame for 10/11 suites (2006-2009)
- Exterior: stucco coating (Aug 2011)
|No. Units||Avg. Rent|
|1 bedroom||No. Units6||Avg. Rent$733|
|2 bedroom||No. Units5||Avg. Rent$841|
|Income and Expenses|
Less vacancy at 2.5%
Net Operating Income
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.