For Sale

Sunrise Heights

2215 E Hastings Street, Vancouver

Apartment Building
37 suites plus commercial component

$21,800,000

3.5% cap rate

Overview

Rarely available newer construction purpose-built rental apartment building featuring 37 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
  • 4-storey concrete/wood structure with one level of underground parking
  • Opportunity to purchase neighboring 34-suite rental project only 6 blocks away along E Hastings St
  • Significant upside on rents

To download a detailed PDF brochure, click here. 

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 property is located on the north side of East Hastings Street, just two blocks west of Nanaimo 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.

Summary

Price$21,800,000
Units37
Storeys4
Net Rentable Area22,099 SF residential and 7,268 SF commercial
Cap Rate3.5%
Year Built2015
Lot Size12,082 SF
ZoningC-2C1 Commercial
PID028-991-729

Suite Mix

 No. UnitsAvg. Sq. Ft.Avg. Rent
1 bedroomNo. Units25Avg. Sq. Ft.508 SFAvg. Rent$1,405
1 bedroom + denNo. Units1Avg. Sq. Ft.765 SFAvg. Rent$1,920
2 bedroomNo. Units3Avg. Sq. Ft.634 SFAvg. Rent$1,898
2 bedroom / 2 bathroomNo. Units8Avg. Sq. Ft.842 SFAvg. Rent$2,096

Financials

FinancingTreat as clear title.
Assessment 2017
Land
Building
Total
Land$5,727,000
Building$10,621,000
Total$16,348,000
Taxes 2017
$30,469 (residential allocation)
Income and Expenses
Net Operating Income
Net Operating Income$757,048
NotesFor a current rent roll and expense statement, 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.

Mortgage Calculator

Mortgage
Interest rate
Amortized over
Your monthly payment is approximately

* Assumes constant interest rate throughout amortization period

%
year(s)