Bella Place was built primarily for the province of PEI as the Dept. of Seniors/Housing has committed to a 10 year contract to rent all apartments in the building for the purposes of their senior housing program(PPP) A total of 15 residential units(4x2 bed, 11x1 bed of which 4 are designed for persons with disabilities)Essentially guaranteeing residential rent until February of 2022 with increases annually according to maximum allowable by IRAC.(2013 was 5% & 2014 will be 3%)There are 2 commercial ground floor units each at 850 sq.ft.to a financial planner(5 year lease) and a Bridal Boutique (3 year lease). The bottom floor contains 29 storage units(self storage). The building is fully occupied(including self-storage). Further amenities in the building include a 4 stop elevator, a common room for residential tenants, corner lot location and ample parking onsite designated parking. the property has a cap rate of 6-6.5% and only 1 year old. Confidentiality agreement for financials (14595117)
Land Size
0.42 ACRES|under 1 acre
Annual Property Taxes
$18,917 (CAD)
Time on REALTOR.ca
4182 days
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