The Ventura Manor
Cranbrook, BC
DwellScape Investments is pleased to present the Ventura Manor, a newly acquired 17 units Multi family value add property in the heart of Cranbrook, BC.
Status:
Property Type:
Age:
Building Size:
Spaces:
Optimization Phase
Multifamily Rental purpose
1971 built
17,669 SF
17 Units
About the Opportunity
We are really excited about this one. We found this opportunity through our network of brokers and closed on the 1st of May, 2021. The building was in good shape overall but needed a boiler and units updates. We saw an opportunity on the rent side being substantially under market and further more with updated units. We had forecast a average rent increase of 25% but with our updated units are able to achieved 35% average rent increase per units so far. The plan is to refinance comes ends of term and hold the property with no equity in for continuous cash flow distributions.
Status:
Optimization Phase
Property Type:
Multifamily Rental purpose
Age:
1971 built
Building Size:
17,669 SF
Spaces:
17 Units
About the Opportunity
We are really excited about this one. We found this opportunity through our network of brokers and closed on the 1st of May, 2021. The building was in good shape overall but needed a boiler and units updates. We saw an opportunity on the rent side being substantially under market and further more with updated units. We had forecast a average rent increase of 25% but with our updated units are able to achieved 35% average rent increase per units so far. The plan is to refinance comes ends of term and hold the property with no equity in for continuous cash flow distributions.
Investment View
Purchased Price
Cap Rate
Initial Cash on Cash
Holding period
Target IRR (Year 5)
$1,590,000
5.5%
6%
5 to 6 Years
18%
Price per door
Investments Structure
Investments Split
Distribution
$93,529
Limited partnership
25% General Partners
75% Limited Partners
Expected 6% Quarterly
Purchased Price
$1,590,000
Cap Rate
5.5%
Initial Cash on Cash
6%
Holding period
5 to 6 Years
Target IRR (Year 5)
18%
Price per door
$93,529
Investments Structure
Limited partnership
Investments Split
25% General Partners
75% Limited Partners
Distribution
Expected 6% Quarterly