Francine Tracey

RE/Max First Realty.

Cell 604-961-6550

Email: info@francinetracey.com

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A-G 118 RAINBOW Road
Islands-Van. & Gulf Salt Spring Island V8K 2R7

$5,900,000
Multi-Family Commercial

Main Photo: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 1: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 2: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 3: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 4: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 5: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 6: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 7: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 8: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 9: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 10: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 11: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 12: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 13: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 14: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 15: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 16: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 17: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 18: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 19: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 20: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 21: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 22: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 23: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 24: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 25: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 26: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 27: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 28: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Photo 29: A-G 118 RAINBOW Road: Salt Spring Island Multi-Family Commercial for sale (Islands-Van. & Gulf)  : MLS®# C8052731
Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8052731
Bus Major:
Accommodation Travel & Tourism
Bus Minor:
Bed & Breakfast
Build. Type:
Residential Mix
Upscale, well positioned investment opportunity on Salt Spring Island in the beautiful Gulf Islands. The subject property is improved with a 3 storey building comprised of 7 high end units with 15 bedrooms and a myriad of premium amenities. E.g. In-suite washer and dryer, kitchen area, private patios, vaulted ceilings, TV’s, barbeques, wifi, onsite parking with secure gate, private entrances, gas fireplaces and floor to ceiling windows. Exceptional ocean, forest, and island views; only minutes away from retail shops, restaurants, parks and other major tourist attractions in Ganges Village. The penthouse is permitted for full time occupancy, allowing for one to live onsite, while managing the streamlined operation. Salt Spring has a dynamic, alluring hospitality submarket with limited supply and sizeable demand. STR reports are robust (e.g. elevated ADR & RevPAR metrics) with future growth potential and there are no supply side pressures in the near-term. Please inquire for more information.
Sale Type:
Share
Lease Type:
Gross
Sublease:
No
Total space avail for lease:
9,887 sq. ft.
Business Name:
Mariner's Loft
Major Bus Type:
Accommodation Travel & Tourism
Minor Bus Type:
Bed & Breakfast
Construction:
Wood Frame, See Remarks
Building Type:
Residential Mix, See Realtor Remarks
Name of Complex/Subdivision:
# Bldgs:
2
# Units:
7
# Other Units:
# of 2 Bedroom Appartments:
6
# of 3 Bedroom Appartments:
1
# Storeys:
3.0
Year built:
2011 (Age: 12)
Total Floor Area:
8,298 sq. ft.
Minimum Divisible Area:
8,298 sq. ft.
Lot Area:
17,642 sq. ft.
Lot Depth:
0
Lot Frontage:
0'
Land Use/Zoning:
CA1(D)CML ACMDTN1ZNE
Permitted Use:
Multifamily (5+)
Taxes:
$18,267.69 / 2022
Balconies, Secured Building, Secured Parking, Visitor Parking, Waterfront, Fenced Yard, Other
Services Connected:
Cable, Electricity, Fully Serviced, Garbage Collection, Lane Paved, Natural Gas, Paved Streets, Telephone, See Remarks, City Water at Lot Line
Water Supply:
Municipal
Water Rights:
No
HVAC:
See Realtor Remarks
Roof:
Sewer Septic:
Municipal/Community
Potential to Redevelop:
No
Env Assmt Phase:
No
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
Tot Gross Sales:
Condo Fee:
Previous Price:
Original Price:
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Listed by Macdonald Commercial Real Estate Services Ltd.
Data was last updated December 11, 2023 at 04:35 AM (UTC)
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