Overview
Well maintained 10-suite three-storey apartment building conveniently located on Hastings Street in Burnaby’s Capitol Hill neighbourhood, just a few blocks east of the eclectic Burnaby Heights corridor which features a mix of popular restaurants and retail amenities.
Built in 1962 and improved on an 8,158 SF RM3 zoned lot, the building’s suite mix comprises 8 one-bedrooms, 1 one + den and 1 two-bedroom, all of which have been renovated to some extent over the past 15 years. Other highlights include dishwashers in 5 of the 10 suites, 1 set of owned washer & dryer, 10 storage lockers, and 7 surface parking stalls located at the rear of the building.
Highlights
- Large clean lobby entry with well-maintained carpeted flooring
- Building workshop located at ground level approximately 150-200 SF
- Hot water tank (2013)
- Original HydroTherm boiler – maintained regularly
- Torch-on roof approximately 30 years old – maintained regularly
- No smoking policy throughout entire building
- 6/10 suites have new breaker panels
- New double-pane windows and frames (2018)
- Extensive suite upgrades throughout the years – detailed breakdown of each suite upgrade available
Location
5353 Hastings Street is centrally located in Burnaby’s prized Capitol Hill neighbourhood, on the north side of Hastings Street two properties west of Howard Avenue. There are many transportation options connecting the rest of the region such as Hastings Street out front and Willingdon Avenue just 5 blocks west. The building is situated within a quick 15-minute walk to Burnaby’s eclectic “Heights” neighbourhood, featuring a mix of restaurants and other everyday retail amenities.
The property also benefits from proximity to many desirable community amenities such as Ecole Capitol Hill Elementary School, Ecole Alpha Secondary School, Kensington Park and Confederation Park. Additionally, the building is just a short 5-minute drive to the newly renovated Brentwood Town Centre Mall and Brentwood Centre Skytrain Station.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
One bedroom | No. units8 | Average size800 SF | Average rent$1,188 |
One bed + den | No. units1 | Average size750 SF | Average rent$875 |
Two bedroom | No. units1 | Average size1,200 SF | Average rent$1,573 |
Financials
Financing | Treat as clear title. | |
---|---|---|
Assessment 2021 | Land Building Total | Land$1,980,000 Building$894,000 Total$2,874,000 |
Taxes 2021 | $9,671 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$147,000 Vacancy(735) Effective gross$146,265 Operating expenses(51,120) Net operating income$95,145 |
Notes | For rent roll & expenses, 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.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Manraj Dosanjh
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Manraj Dosanjh
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3