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Arcola Apartments

6788 Arcola Street, Burnaby

Apartment Building
11 Suites

SOLD $1,300,000

Overview

Arcola Apartments is an 11 unit frame apartment building located in the Middlegate neighborhood of Burnaby.

Location

The subject property is located in Burnaby on the south side of Arcola Street, one block north of Kingsway in the heart of the Middlegate Town Centre. Close to Highgate Shopping Centre.

Summary

Price$1,350,000
Units11
Price/Unit$122,727
Cap Rate4.5%
GIM15
Lot Size9120 sq. ft.
ZoningRM-3
PID010-062-068
Sale Price$1,300,000
Sale Date01/01/2007

Suite Mix

 No. Units
BachelorNo. Units1
One BedroomNo. Units8
Two BedroomNo. Units2

Financials

FinancingClear title.
Assessment 2006
Land
Building
Total
Land$547,000
Building$598,000
Total$1,145,000
Taxes 2006
$9,394.48
Income and Expenses
Effective Gross
Operating Expenses
Net Operating Income
Effective Gross$87,495
Operating Expenses(26,080)
Net Operating Income$61,415
NotesCaretaker/management expense excluded as building is owner-operated.

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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