The Opportunity
Cushman & Wakefield and Royal LePage Kelowna Commercial presents investors the opportunity to acquire a 100% freehold interest in Artium Student Residence, located at 125 Dundas Road, Kelowna, BC (the “Property”), a 23-unit, 97-bed off-campus student housing facility comprised of three, four, and five-bedroom units.
Strategically positioned in Kelowna’s Rutland neighbourhood, the Property has remained in excellent condition since it’s construction in 2017. The prime location along a major bus route with service to UBCO, Okanagan College, and Downtown Kelowna combined with a plethora of nearby retail amenities offers students an unmatched lifestyle of convenience and connectivity.
Property Details
| Year 1 NOI | $835,578 |
| CAP RATE | 5.88% |
| Unit Mix | 3 Bedrooms: 8
4 Bedrooms: 2 5 Bedrooms: 13 |
| Total Units / Beds | 23 Units / 97 Beds |
| Parking | 27 Stalls + MODO CarShare on site |
| Laundry | 3 Laundry Rooms |
| Heat | Forced-Air |
| Air Conditioning | Yes |
The Location
• Perfect location for off-campus student housing which provides connectivity to UBCO, Okanagan College and Downtown Kelowna.
• Bus stops in both directions for bus routes number 8 and 10 are located less than 50 meters from the Property.
• Situated less than 200 meters from the Highway 33/Hollywood Road intersection which is host to a wide range of retail amenities including fast food, grocery stores, drug stores, cannabis and liquor stores, as well as logistical conveniences such as banks and a Canada Post office.