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Ambassador Manor Apartments

52,430 Sqft - 379 Hargrave Street, Winnipeg, Manitoba

$8,650,000

Property Highlights

  • Turnkey Investment Opportunity Significant capital spent over recent years, all major components replaced/refurbished
  • Near Term Upside based on future RTB registered rent increases
  • Free and Clear of Debt Opportunity to take advantage of attractive available financing including the potential for the new MLI Select CMHC Program
  • One-of-a-Kind Beautiful Heritage Building built to last – masonry concrete block and reinforced concrete floor construction

The Offering

CW Stevenson Inc., operating as Cushman & Wakefield | Stevenson (“CWS”), is pleased to offer for sale a 100% freehold interest in “Ambassador Manor Apartments” located at 379 Hargrave Street in Winnipeg, MB, and including the parking lot located at 388 Hargrave Street in Winnipeg, MB (the “Property”), on behalf of McCallum Industrial Park Inc. (the “Vendor”).
The Property, a turnkey investment, originally constructed in 1909 as the “Breadalbane Block”, sits at the corner of Hargrave Street and Cumberland Avenue in downtown Winnipeg. The Property is a wedge-shaped, 5-storey rental apartment building which houses 72-suites surrounding a central courtyard and with access to common open-air balconies on each floor. Reminiscent of a flatiron-style building, the Property is constructed of reinforced concrete and buff brick and has been substantially renovated and restored to allow its remarkable heritage elements to stand out and be noticed. The Property, which is rarely vacant, boasts below market rents and may allow the opportunity for a purchaser to take advantage of CMHC’s new MLI Select program to maximize investment returns.

 

More Details

Property Type

Investment

Listing Type

Sale

Area Available

52,430 Sqft

Listing Details

Property Type

Investment

Land Area

0.40 Acres

Sale Price

$8,650,000

Listing Type

Sale

Area Available

52,430 Sqft

Property Taxes

$56,352.89

Rate Type

Zoning

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Country

CA

Province

MB

City

Winnipeg

Street

379 Hargrave Street

Longitude

W98° 51' 14.2''

Latitude

N49° 53' 48.2''