Ponente Apartments

6557 Burlington Street, Burnaby

SOLD $5,000,000

Print options

Would you like to print the gallery images?

Yes No

Price$5,295,000

Units31

Year built1967

Lot size198' x 108'

ZoningRM-2

Price/unit$170,806

Cap rate3.8%

GIM15.9

PID002-956-861

Legal descriptionLOT 47 DL152 GROUP 1 NWD PLAN 1520

Sale price$5,000,000

Sale date01/05/2012

Overview

The subject property is a well maintained 3-storey wood frame 31-suite apartment building located in Burnaby’s Metrotown neighbourhood. The building features an elevator, balconies, large suites and secured underground parking.

Location

The property is centrally located in the Metrotown neighbourhood of Burnaby, situated on the west side of Burlington Avenue, a block south of Kingsway, a block west of Royal Oak and 2 blocks north of Imperial St. Metrotown Shopping Mall, Skytrain and Bonsor Park are within immediate walking distance.

Features

-Large lot at 21,384 sq. ft.
-Attractive marble entrance
-Security cameras
-Elevator and secure parking for 31 cars
-31 storage lockers
-Laundry room: 2 washers/2 dryers leased
-Natural gas hot water heating system
-Extra large suites with balconies
-Security camera
-Hallway carpets replaced (2009)
-Horizontal water lines replaced in 1st floor (2009)
-Ongoing maintenance program including appliance renewal

Show less

	No. units
Bachelor	No. units3
One Bedroom	No. units18
Two Bedroom	No. units9
Three Bedroom	No. units1

Financials

Financing	Treat as clear title.
Assessment 2011	Land Building Total	Land$2,044,000 Building$2,067,000 Total$4,111,000
Taxes 2010	$18,380
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$337,802 Vacancy(5,067) Effective gross$332,735 Operating expenses(129,498) Net operating income$203,237
Notes	Income annualized as of August 2011. 2010 Expenses. For a rent roll and expense statement, 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.