Investor Alert – Campbell River short of rental inventory
Investor Alert – Campbell River short of rental inventory
Hi All, the property management department at Remax Check Realty has spread the word to the sales team:
“If anyone has buyers looking for investment properties, property management needs new inventory – we’re out of houses, esp. 4 + bedrooms and there’s increasing demand.”
One more indicator amongst many that Campbell River’s real estate market is upwards and onwards. 42% of Buyers purchasing homes in Campbell River live within the area. Of those, 40% are residents of Campbell River for less than one year. Buyers like to ‘temp rent’ and try out Campbell River before they buy. If the property management department is out of inventory, as a Realtor, that tells me there are a lot more buyers in the wood work.
Campbell River’s property values are excellent compared to Vancouver Island as a whole. In February, the median price of a single family home was $294,355 and the median price of a lot was $104,000. When taking into consideration the economic boom projects such as the BC Hydro dam upgrade and the new hospital build, both in construction over the next five years. The incoming construction workers for these projects will require rental accommodation.
Last week’s top pick investment property 738 Beaver Lodge Road, mls # 370543, $284,900 zoned R1A with a legal 3 bedroom suite below. Listed on Friday, March 7, it had an accepted offer on the very next day on March 8th.
This week’s top pick investment property, Vanessa Hird’s 778 Beaver Lodge. See the list below to see my other ‘stand out’ properties. Let me know if you have any questions on any properties.
Strata Properties
401-322 Birch mls 370967
110-824 Isl S. Hwy mls 371064
Little Ranchers
78 Washington mls 364718
624 Niluht mls 370875
Suites and Suitable
1048 Galerno $313,900 mls 370922
331 Birch $228,800 mls 370878 (sold in 6 days)
975 Alder $267,700 mls 371096
555 Birch $289,900 mls 371372
361 Parkway $309,900 mls 370929
13-2033 Varsity Landing $339,000 mls 366428
Duplex
361 Mclean $279,900 mls 371377
778 Beaver Lodge Rd $309,000 mls 369419
