6709 Sussex Avenue, Burnaby

6709 Sussex Avenue, Burnaby

$2,650,000 - Apartment Building, Residential - Sold by NAI Commercial

Property Attachments

    Sold Price: $2,650,000

    Multifamily Property For Sale

    Information Package

    Description
    We are pleased to offer a 10 unit apartment building in a prime Metrotown location that is within 5 minutes walking distance to the SkyTrain. All the units have been tastefully updated with upgrades to the kitchen, bathroom and living room. The property has also seen some capital improvements such as:

    • New Roof
    • New Boiler
    • New Windows
    • Updated plumbing to main lines and risers

     

    Development Potential

    The subject property is also located within the designated area of the new Official Community Plan that is under revision by the City of Burnaby. The land could potentially see an increase in the allowed density that would provide an opportunity to build a mid-rise condominium building.

    No. Units: 10
    Price/Unit: $265,000 CAD
    Property Type: Multifamily Property
    Sub-type: Garden/Low-Rise

    Age: Built in 1963

    Lot Size: 8,778 square feet

    Capitalization Rate: 2.6%

    Potential Capitalization rate: 3.0%

    Current Zoning: RM-3 Multi-Family

    Potential Zoning: RM-4s

    Suite Mix
    Bachelor: 1 (unauthorized)
    One Bedroom: 7
    Two Bedroom Penthouse: 2
    Total 10

    Parking
    Open 6

    Property on Map

    Property Attachments

      No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.

      IF YOU WANT TO STAY AHEAD OF THE MARKET, CLICK HERE