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Mixed-Use Investment Property

4680 Hastings Street, Burnaby

Mixed-Use Property
9 residential suites plus 4 commercial units

SOLD $4,500,000

Overview

The subject property is a two-storey corner mixed-use investment property with retail at grade and residential rental units above in North Burnaby. There are four commercial units at 7,653 sq. ft. and nine residential suites at 8,199 sq. ft. for a combined total of 15,852 sq. ft. of gross area.

Location

The property is located in the extension of the Hastings Street Community Plan of North Burnaby, which is an established commercial node with bustling retailers, residential and office tenants. Currently, the area has seen an increase in demand for commercial premises with new developments catering to the local market. 

Summary

Price$4,250,000
Units9 residential plus 4 commercial
Storeys2
Building Size15,852 SF
Cap Rate3.9%
Lot Size99’ x 120’ (11,880 SF)
ZoningC-4A
PID012-109-886; 012-109-908; 012-109-894
Sale Price$4,500,000
Sale Date11/24/2015

Suite Mix

 No. UnitsAvg. Sq. Ft.Avg. Rent
BachelorNo. Units1Avg. Sq. Ft.567Avg. Rent$720
1 BedroomNo. Units6Avg. Sq. Ft.688Avg. Rent$868
2 BedroomNo. Units1Avg. Sq. Ft.1,150Avg. Rent$858
CommercialNo. Units4Avg. Sq. Ft. 

Financials

FinancingTreat as clear title.
Assessment 2015
Land
Building
Total
Land$2,155,000
Building$1,090,000
Total$3,245,000
Taxes 2015
$37,279
Income and Expenses
Net Operating Income
Net Operating Income$163,753
NotesFor brochure and financials, please click here.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

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