Golden Oak Gardens

Sparwood offers a compelling multifamily investment opportunity driven by strong rental demand from a stable, high-income workforce employed throughout the Elk Valley’s globally significant steelmaking coal industry. The community boasts a median household income of approximately $126,000— more than 45% above the British Columbia average—reflecting the strength of the local employment base and residents’ ability to support market rents. Limited housing supply, high occupancy levels, and barriers to new development continue to support rental growth and long-term asset performance. Combined with relatively affordable acquisition costs compared to larger BC markets, Sparwood provides investors with the opportunity to achieve attractive cash flow while benefiting from the long-term economic strength of one of Canada’s most important resource-producing regions.Golden Oak Gardens is a well-maintained 15-unit apartment building situated on a 19,210-square-foot (0.44-acre) site in Sparwood, British Columbia. Constructed in 1973 with woodframe construction, the three-storey property is improved with a highly desirable suite mix comprised of fourteen two-bedroom units and one one-bedroom unit, catering to the strong demand for workforce and family-oriented housing in the Elk Valley region. The property has benefited from significant capital improvements and ongoing ownership stewardship. Building systems include electric baseboard heating and gas-fired hot water tanks that were replaced in 2018. Major exterior renovations completed in 2016 included new siding, decks, railings, and fascia boards, while a new roof and vinyl windows were installed in 2020. Additional ownership initiatives have included carport upgrades and painting and carport foundation repairs. Recent capital expenditures have been limited primarily to routine turnover maintenance and the repainting of a single suite, demonstrating the property’s strong occupancy history and minimal tenant turnover. This stability reflects the robust demand for rental housing in Sparwood, supported by the region’s high-income employment base, driven by the Elk Valley’s mining sector, and a constrained supply of rental housing.