Overview
Linden Glen Apartments is a 35-unit two-storey + penthouse rental apartment building located in the family-friendly enclave of Burnaby’s Edmonds neighbourhood.
Built in 1959 and improved on a large 30,916 SF lot with 195’ frontage, the property features a suite mix of 8 bachelors, 10 one-bedrooms, 15 two-bedrooms and 2 three-bedroom penthouses. The property has been well cared for over the years and has undergone several recent upgrades. Other highlights include a large non-functioning fully fenced pool located out front in the middle of the u-shaped building, 15 storage lockers, two sets of leased washer/dryers and 20 surface parking stalls located at the rear of building.
Upgrades
The building has undergone several upgrades over the years including:
- Electric breakers installed to several suites
- New kitchens that include quartz counters, new cabinets and appliances (7 suites)
- Updated common areas with carpet & paint (2020)
- Roof has been 75% replaced (2018)
- 75% torch on
- 25% tar/gravel
- IBC boiler (2013)
- 1 new hot water tank (2020)
Location
Linden Glen Apartments is located in South Burnaby on the east side of Linden Avenue, one block from Edmonds Street and Edmonds Community Centre. Situated in the heart of Highgate Town Centre, the property is within 2 blocks to Highgate Shopping Centre, restaurants, transit and various retail and community amenities. Its convenient location also affords residents ample green space with Edmonds Park located directly adjacent to the property. Additionally, the property is within a 12-minute walk to the Edmonds Skytrain Station and a 5-minute drive to Metrotown Mall.
The Edmonds neighbourhood continues to benefit from increased development, adding scores of new community amenities.
Suite mix
| No. units | Average size | Average rent | |
|---|---|---|---|
| Bachelor | No. units8 | Average rent$818 | |
| 1 bedroom | No. units10 | Average rent$953 | |
| 2 bedroom | No. units15 | Average rent$1,174 | |
| 3 bedroom PH | No. units2 | Average rent$1,598 |
Financials
| Financing | Treat as clear title. | |
|---|---|---|
| Assessment 2023 | Land Building Total | Land$9,760,000 Building$2,186,000 Total$11,946,000 |
| Taxes 2023 | $33,120 | |
| Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$449,821 Vacancy(2,249) Effective gross$447,572 Operating expenses(179,188) Net operating income$268,384 |
| Notes | For a rent roll and expense statement, please contact listing agent. | |
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
Mortgage calculator
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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