“Apartments at Park”
Project Overview
Be an owner of The Apartments at Park without the hassle of being an active landlord.
The Apartments at Park are pleased to offer this exciting investment opportunity. The Apartments at Park is offering up to a 50% ownership share in this project with a great cashflow (6+ % cap rate) and upside potential. Your investment buys you shares in The Apartments at Park Inc.
Rents are accelerating at a rapid pace in the St. John’s and surrounding areas with the vacancy rate as low as 0.3% in 2024. Governments of all levels have identified the need for rental housing as a critical issue and The Apartments at Park meet this need in a much more affordable solution than most projects of its size.
This project is developed by an experienced developer/landlord who has done all the hard work so you get the benefits of owning residential apartments without the years of effort developing the project from scratch.
Construction of The Apartments at Park has already begun. Don’t miss out on this excellent opportunity. We would be pleased to answer any additional questions you may have.
A place to make memories.
A variety of floorplans to serve every need.
THE APARTMENTS AT PARK GENERATE RETURNS THROUGH A COMBINATION OF THE FOLLOWING THREE FACTORS:
Regular income stream generated from tenants paying rent.
*Based on target projections
Paying down the mortgage of the property results in increased equity.
Property values increase over time and as improvements are made.
Determined by current annual rental income
From increase in value of the property
Initial distributions are
100% return of capital
(for tax purposes)
Opportunity to reinvest distributions in future projects
Annual rent increases can provide an excellent hedge against inflation
Private Canadian apartments have demonstrated lower volatility and higher relative returns than traditional investments
INVESTMENT OVERVIEW
Welcome to your charming apartment complex nestled in the heart of Mount Pearl, Newfoundland and Labrador. This building is an excellent investment opportunity situated in a vibrant community known for its scenic beauty and friendly atmosphere, this inviting residence offers a perfect blend of comfort, convenience, and modern living.
*ASSUMPTIONS BASED ON CMHC MLI SELECT FINANCING, 4.2% INTEREST, 5% ON CLOSING + CLOSING COSTS + 50 YEARS AMORTIZATION, AND QUALIFIES FOR GST / HST REBATE
PROJECT HIGHLIGHTS
Building Features:
✨ One 3 storey and 2 storey wood frame apartment buildings
✨ Large open-concept units
In suite laundry hook up
4 appliances included
✨34 units
32 - 2 Bedroom
2 - 1 Bedroom
Approximately 1.5 parking spots per unit
✨Designed to meet the requirements of the CMHC MLI Select Project
Financing Program
Accessibility
6 fully accessible units
9 visitable units
Energy Efficiency
Exceeds the national energy code
Affordability
The project qualifies for GST/HST rebates under the affordable housing initiative
10% of units must meet the CHMC affordability requirements to qualify under the MLI Select Program
Building is designed with direct access to each unit and no common space to maintain
No elevators
Location:
✨ Mount Pearl NL / Greater St. John’s area
✨ Adjacent to public transit
✨ Direct access to the Mount Pearl walking trail system
✨ Close to shopping, schools and recreation facilities
FINANCIAL SUMMARY
PROJECTED OPERATING EXPENSES*
PROJECTED INCOME
PROJECT SUMMARY
N O T E : Numbers are provided as a guide. Purchaser is responsible to secure their own financing and verify all assumptions.
SITE PLAN
Note: Accessible units are included in the numbers for total units in which building.
FLOOR PLANS
ENLARGED PLAN - UNIT TYPE 'A' ACCESSIBLE - LEVEL 1
1007 sf
FLOOR PLANS
ENLARGED PLAN - UNIT TYPE 'B' STANDARD - LEVEL 1
928sf
FLOOR PLANS
ENLARGED PLAN - UNIT TYPE 'C' STANDARD - LEVEL 2
886sf
AREA OVERVIEW
MOUNT PEARL, NL
Located in the greater metropolitan area of St. John’s, the capital city of Newfoundland and Labrador. Residents have easy access to the amenities and employment opportunities available in larger urban centres while enjoying the charm of a close knit community. Residents have the convenience of urban living while being surrounded by the natural beauty of Mount Pearl with access to an extensive walking trail system. Easy access to shopping, schools, parks and recreational facilities make it a desirable location. The city of Mount Pearl actively promotes community engagement through a combination of events, festivals and recreational activities, offering residents a welcoming location to call home.