Parkview Apartments

This is a unique opportunity to purchase a well-managed rental complex that has been with the same ownership group for over 40 years. Parkview Apartments, originally constructed in 1967, is comprised of a 3 storey – 12 unit apartment building that has ample surface parking and is situated on a well-located 8,195-square-foot lot. A suite mix consisting of 11 one-bedroom and 1 two-bedroom units, with spacious floor plans; the majority being corner units that boast wrap-around balconies. Positioned in the Cedar Cove
neighborhood, an area whose rental market has become extremely competitive in recent years and is currently experiencing historically low vacancy rates (0.4% as per 2023 CMHC records). Combine this with rising rents, a strong local economy, and a growing population; the complex offers investors a current stable cash flow with revenue upside upon tenant turnover. As an added bonus, a future opportunity to develop and increase density is available under the Grandview Woodlands OCP.