Lowe Apartments

6822 Arcola Street, Burnaby, BC

$1,220,000

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Price$1,220,000

Units10

Year built1958

Lot size9000

ZoningRM-3

Price/unit$122,000

Cap rate3.9%

GIM16

PID010-404-082

Legal descriptionLot G, DL 96 Group1 New Westminster, District Plan 18681

Overview

Lowe Apartments is a 10 unit low rise frame apartment building located in the Middlegate neighbourhood of Burnaby. UNDER CONTRACT

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.

Features

– 2 level frame apartment with stucco exterior
– Suites feature hardwood floors
– 8 surface parking
– 10 lockers
– Original plumbing in good condition
– Torch-on roof (approx. 9 years)
– Appliances replaced (approx. 10 years)
– 1 washer/1 dryer (new washer ordered)
– 2 hot water tanks
– Super Hot furnace

Rent Roll & Statements

For a rent roll and statement, download the PDF file above. Note that the rents are well below market averages.

Show less

	No. units
Bachelor	No. units2
1 Bedroom	No. units5
2 Bedroom	No. units3

Financials

Financing	Treat as clear title.
Assessment 2007	Land Building Total	Land$540,000 Building$461,000 Total$1,001,000
Taxes 2007	$4,865.00
Income and expenses	Effective gross Operating expenses Net operating income	Effective gross$76,360 Operating expenses$29,213 Net operating income$47,147
Notes	Annualized as of January 2008

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