Glacier Apartments
7080 Glacier Street, Powell River
SOLD $6,250,000
Overview
Glacier Apartments is a meticulously maintained 59-suite apartment building located in the Sunshine Coast community of Powell River. The three-storey property sits on a massive 1.54-acre site and features a suite mix of 40 one-bedrooms and 19 two-bedrooms. 44 of the 59 over-sized suites offer breathtaking views looking westward over the Georgia Strait.
Building highlights include secured underground parking (50), additional surface parking (28), storage lockers (52), security cameras, wheelchair accessible entry, and 6 sets of owned washers / dryers.
Each unit contains its own electric hot water tank (paid by tenant). Electric baseboard heat in each unit is supplied by the building.
Upgrades
Major upgrades over the years include all new double-paned windows (2013); new torch-on roof (2013 & 2003); sliding glass doors (2019); elevator refurbishment (2018) and most recently, a new parkade gate (2023). Balconies and plumbing upgraded as needed.
Location
Glacier Apartments is situated on the south side of Glacier Street in the central Westview neighbourhood of Powell River. The property is located within 1 km of the central waterfront area and ferry dock, and less than a 5-minute drive to Powell River Town Centre, the main community shopping plaza, offering tenants convenient access to Walmart, Save-On Foods, Canadian Tire, RONA and many other shops and services.
While historically a resource-based community focused on forestry, fishing, and mining, Powell River has diversified as a hub for tourism and the arts. Its idyllic location offers endless options for recreational and outdoor adventure. In 2004, Powell River was named a “Cultural Capital of Canada” and is home to Canada’s oldest continuously operating theatre.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
1 bedroom | No. units40 | Average size700 | Average rent $811 |
2 bedroom | No. units19 | Average size1160 | Average rent $922 |
Financials
Financing | Treat as clear title | |
---|---|---|
Assessment 2023 | Land Building Total | Land$395,000 Building$7,612,000 Total$8,007,000 |
Taxes 2023 | $84,147 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$624,744 Vacancy(3,124) Effective gross$621,620 Operating expenses(315,180) Net operating income$306,440 |
Notes | For additional information including financials, please contact the listing agent. |
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Ian Brackett
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
Mortgage calculator
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Ian Brackett
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3