Sold $2,650,000.00 - Apartment Building, Residential

Sold Price: $2,650,000

Multifamily Property For Sale

Information Package

Description
We are pleased to offer a 10 unit apartment building in a prime Metrotown location that is within 5 minutes walking distance to the SkyTrain. All the units have been tastefully updated with upgrades to the kitchen, bathroom and living room. The property has also seen some capital improvements such as:

  • New Roof
  • New Boiler
  • New Windows
  • Updated plumbing to main lines and risers

 

Development Potential

The subject property is also located within the designated area of the new Official Community Plan that is under revision by the City of Burnaby. The land could potentially see an increase in the allowed density that would provide an opportunity to build a mid-rise condominium building.

No. Units: 10
Price/Unit: $265,000 CAD
Property Type: Multifamily Property
Sub-type: Garden/Low-Rise

Age: Built in 1963

Lot Size: 8,778 square feet

Capitalization Rate: 2.6%

Potential Capitalization rate: 3.0%

Current Zoning: RM-3 Multi-Family

Potential Zoning: RM-4s

Suite Mix
Bachelor: 1 (unauthorized)
One Bedroom: 7
Two Bedroom Penthouse: 2
Total 10

Parking
Open 6

Property Information Package
Property Map

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