Multi Family

2285 TRIUMPH Street
Hastings Vancouver V5L 1L2

$6,700,000
Multi-Family Commercial

Main Photo: 2285 TRIUMPH Street in Vancouver: Hastings Multi-Family Commercial for sale (Vancouver East)  : MLS® # C8014713
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8014713
Status:
Active
Build. Type:
Low Rise (2-4 stories)
The “Garden Manor Apartments” is a substantially renovated 3-storey plus underground parkade, 16-suite rental apartment building prominently located in the highly sought-after Grandview-Woodland Neighborhood. The building has enjoyed a variety of recent capital upgrades including; a full re-pipe, new windows and sliders, new front intercom system, lobby and common area updates and a full renovation to 11 of 16 suites, to name a few. Cap rate on the list price is 3% with excellent future rental upside. The Offering provides prospective investors the opportunity to increase cash flow and yield by renovating the remaining 5 un-renovated suites on turnover and increasing rents to match the rents currently being achieved within the building. Additionally, due to the property’s inclusion in the recently approved Grandview-Woodland Community Plan there is significant future redevelopment opportunity.
Sale Type:
Asset
Property Type:
Multi-Family Commercial
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories)
# Units:
16
Year built:
1971 (Age: 46)
Land Use/Zoning:
RM-3A
Taxes:
$10,886.45 / 2017
Env Assmt Phase:
Phase/Stage 1
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Other Income:
Effective Gross Income:
Gross Income:
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Tot Gross Sales:
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Previous Price:
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Listing information last updated on 16-Oct-2017 11:05 PM