3618 East Hastings Street, Vancouver
8 residential units & 1 CRU
3816 E. Hastings is a well maintained and operated mixed-use commercial/residential property in the popular Hastings corridor. The building is located on the Vancouver side of Boundary Road on a C-2C site with potential for a 3.0 FSR. Commercial ground floor space is fully leased as are the 8 two-bedroom apartment units above, 7 of which have been fully renovated to a high standard.
- Mixed-use rental concrete block building
- Approximately $400,000 in improvements spent in the last 6 years by current owner
- 7 of 8 residential units fully renovated – new appliances, countertops, flooring, designer paint, crown moulding, tiling, etc.
- Well laid out suites with extra large balconies
- Newly created lobby area (last 6 years) with security cameras throughout
- Large underground parking – 1 stall per unit plus 2 additional stalls. Another 8 outdoor surface stalls are available and used by the commercial tenant.
- Extra storage currently generating $200/month in the underground parkade. Room to add more residential storage units.
- Laundry area features one washer and one dryer (leased)
- Commercial tenant just renewed lease for a 5-year term
- Clean Stage 1 report
- Super Hot furnace
- Electric baseboard heating
- Commercial space is air conditioned
- New torch on roof (2011)
- 7 /8 suites renovated to a high standard (last 5 years)
- Second floor common area pipes changed (2014)
- New water shut off valves to each suite (2013)
- New common area carpets (2013)
- New double-glazed windows in units #2 and #4 (2013)
- 2 hot water tanks (3 and 8 years old)
Nestled up on the ridge, the subject property is located on the south side of E. Hastings Street between Boundary Road and Kootenay Street. The property enjoys excellent transit access with a bus stop right outside on Hastings and fantastic city views south, east and west.
Boundary Road is one of the major north-south connectors at the edge of the Vancouver and Burnaby border. Within walking distance are many neighbourhood amenities as well as restaurants and convenience stores. The PNE, Hastings Racetrack, and Pacfic Colliseum are also nearby.
|No. Units||Avg. Sq. Ft.||Avg. Rent|
|2 bedroom||No. Units8||Avg. Sq. Ft.750||Avg. Rent$1,139|
|Commercial||No. Units1||Avg. Sq. Ft.5,035||Avg. Rent$97,000 gross per annum|
|Income and Expenses|
Net Operating Income
|Notes||For a detailed rent roll and expenses statement, 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.