For Sale

2340-50 St. Johns St.

Port Moody

Mixed-use townhouse complex
10 units

$5,350,000

7 residential / 3 commercial

Overview

The subject property is a mixed-use two-storey commercial/residential building located in the heart of Port Moody on a prime high-exposure corner lot at St. Johns Street and Queens Street. The building has a total of 10 units—7 residential townhouse rental suites and 3 commercial units anchored by Starbucks. 3 of the townhomes are 2-level and front Queens Street. This is truly a turnkey property with a genuine pride of ownership. OCP designated Mixed-Use — Moody Centre (residential/commercial up to 6 storeys).

Highlights

  • Well maintained complex in central Port Moody location
  • Prime high-exposure corner lot at St. Johns Street and Queens Street
  • OCP designated Mixed-Use — Moody Centre (residential/commercial up to 6 storeys)
  • Attractive enclosed courtyard with rhododendrons and cherry trees
  • Vinyl exterior; shingle roof replaced (2013)
  • Appliance package for residential suites include fridge, stove, dishwasher and washer/dryer
  • Each unit features its own electric hot water tank (individually metred), and smoke detectors
  • All 3 townhomes have large patios and individually metered gas fireplaces
  • Each unit has at least one parking stall (secured underground) and one storage locker
  • Commercial tenants on triple net lease
  • Property held in a bare trustee — can purchase the shares of the company and save PTT

Location

The complex is nestled in a desirable family-oriented neighborhood and is within walking distance to the West Coast Express, Port Moody Centre Skytrain Evergreen Line Station, and schools: Moody Elementary, Moody Middle and Port Moody Secondary. 

The City of Port Moody is currently looking into a development of the Sawmill site named Flavelle Ocean Front, which will dramatically change Port Moody into a modern style city. The nearest Rocky Point Park brings spectacular outdoor setting with Burrard Inlet and mountains panorama views to encourage year round recreational opportunities including biking, hiking and kayaking. 

Co-listing agent

Tad Lukasik
Sutton Group – 1st West Realty
604.644.1323
tadeklu@gmail.com

Summary

Price$5,350,000
Units7 residential / 3 commercial
Storeys2
Net Rentable Area13,831 SF ($387/SF)
Cap Rate3.1%
Year Built1995
Lot Size66' x 132' (8,712 SF)
ZoningC-3
PID011-454-024

Suite Mix

 No. UnitsAvg. Sq. Ft.Avg. Rent
Two bedroomNo. Units1Avg. Sq. Ft.1230 SFAvg. Rent$1,410
Three bedroomNo. Units6Avg. Sq. Ft.1344 SFAvg. Rent$1,689
CommercialNo. Units3 

Financials

FinancingTreat as clear title.
Assessment 2017
Land
Building
Total
Land$1,000,000
Building$2,803,000
Total$3,803,000
Taxes 2017
$30,883
Income and Expenses
Net Operating Income
Net Operating Income $165,393
NotesFor a current rent roll and expense statement, please click here or  contact Sam Emam at (604) 420-4205 or sam@hqcommercial.ca 

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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