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For Sale

Sunrise Heights & East Village

2215 & 2778 E Hastings St., Vancouver

Multi-family investment w/ commercial component
Two apartment buildings totalling 71 suites

$40,300,000

Properties can be purchased together or separately

Overview

Rarely available multi-family investment opportunity featuring two newer purpose-built rental apartment buildings totaling 71 suites (plus a commercial component) in Vancouver’s uber-trendy East Village neighbourhood.

  • High-end condo-quality construction with elevator service
  • Sweeping views of Downtown, the harbour and North Shore Mountains from upper floors facing north
  • Both buildings are 4-storey concrete/wood structures with one level of underground parking
  • The properties are situated within 6 blocks of each other (10 minute walk) along East Hastings Street
  • Properties can be purchased together as a portfolio or separately
  • Can assume the mortgages or purchase clear title
  • Upside on rents

To download a detailed PDF brochure, click here. 

Summary

Price$40,300,000
Units71
Storeys4
Net Rentable Area41,665 SF residential and 13,893 SF commercial
Price/Unit$567,606
Cap Rate3.6%
Year Built2014 & 2015
ZoningC-2C1 Commercial
PID008-470-049, 028-991-729

Suite Mix

 No. UnitsAvg. Sq. Ft.Avg. Rent
One bedroomNo. Units49Avg. Sq. Ft.524 SFAvg. Rent$1,414
Two bedroom + denNo. Units1Avg. Sq. Ft.765 SFAvg. Rent$1,920
Two bedroomNo. Units3Avg. Sq. Ft.634 SFAvg. Rent$1,898
Two bedroom / two bathroomNo. Units18Avg. Sq. Ft.740 SFAvg. Rent$1,905

Features

The suites feature contemporary interiors with large windows, high end flooring, quartz countertops, under-mounted sinks, stainless steel appliances, bathrooms with ceramic tile floors, Kohler fixtures, and in-suite washer & dryer. Every unit has a separate storage locker and either an enclosed balcony/solarium or a generous outdoor balcony or deck. The building contains ample bike storage and secure parking in a gated garage.

Location

The subject properties are located along East Hastings Street between the north-south arteries of  Templeton Drive and Renfrew Street. The location is central to everything: Just minutes away to Downtown, the North Shore and the Trans Canada Highway. Within walking distance to the PNE/ Playland, Hastings Racetrack, Pacific Coliseum, parks, services and all types of amenities including Shoppers Drug Mart, London Drugs, several coffee shops, a variety of restaurants and bistros.  

The location offers direct bus access to UBC, SFU, the Canada Line, Expo Line and Millennium Line. It is also situated on the world renowned Vancouver bike route system and walking distance to Britannia and Templeton Elementary/Secondary Schools.

Financials

FinancingCan assume the mortgages or purchase clear title. Contact agent for mortgage details.
Income and Expenses
Net Operating Income
Net Operating Income$1,398,119
NotesThe net operating income reflects both the residential and commercial income. Contact agent for a rent roll and expense statement.

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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