Mixed-Use Investment Property

4680 Hastings Street, Burnaby

SOLD $4,500,000

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Price$4,250,000

Units9 residential plus 4 commercial

Storeys2

Building size15,852 SF

Lot size99’ x 120’ (11,880 SF)

ZoningC-4A

Cap rate3.9%

PID012-109-886; 012-109-908; 012-109-894

Sale price$4,500,000

Sale date11/24/2015

Overview

The subject property is a two-storey corner mixed-use investment property with retail at grade and residential rental units above in North Burnaby. There are four commercial units at 7,653 sq. ft. and nine residential suites at 8,199 sq. ft. for a combined total of 15,852 sq. ft. of gross area.

Location

The property is located in the extension of the Hastings Street Community Plan of North Burnaby, which is an established commercial node with bustling retailers, residential and office tenants. Currently, the area has seen an increase in demand for commercial premises with new developments catering to the local market.

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	No. units	Average size	Average rent
Bachelor	No. units1	Average size567	Average rent$720
1 Bedroom	No. units6	Average size688	Average rent$868
2 Bedroom	No. units1	Average size1,150	Average rent$858
Commercial	No. units4	Average size

Financials

Financing	Treat as clear title.
Assessment 2015	Land Building Total	Land$2,155,000 Building$1,090,000 Total$3,245,000
Taxes 2015	$37,279
Income and expenses	Net operating income	Net Operating Income$163,753
Notes	For brochure and financials, please click here.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.