El Ray Apartments is a 10 unit, frame, two storey walk-up apartment building located in Burnaby. Built in 1957, the property features hardwood floors, covered rear parking, lockers and separate laundry. Rents 20% below market.
The subject property is located midway on Sussex Avenue, between Beresford St. to the north and Imperial St. to the south. It is only a 5 minute walk to Metrotown Shopping Centre and Skytrain.
While structurally sound, some suites are in need of TLC. Off-shore owner. Building is under property management, however, there is no caretaker. Torch-on roof approximately 2-3 years old and hot water tank replaced 6 months ago. Ongoing program of appliance renewal.
|One Bedroom||No. units9|
|2005 Income & Expenses|
Net operating income
|Notes||Rents should be 10-15% higher on renovation and turn-over. For a rent roll and expenses 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.