7227 Arcola Street, Burnaby

7227 Arcola Street, Burnaby

$11,500,000 - Apartment Building - Sold by NAI Commercial

Property Attachments

    Sale Price – $11,350,000


    Location


    Sevilla Apartments is located one block off Kingsway Street providing a quiet escape of a quickly growing vibrant community. Recent additions of anchor tenants in the neighbouring condominium towers provides accessibility of necessary shops & amenities right to the tenants’ doorsteps. Development continues to build up the area with new towers under construction such as Kings Crossing by Cressey and townhomes by Kingswood. With surrounding areas skyrocketing in land prices this location situated between two high density zonings may see future redevelopment potential in a future Official Community Plan refresh.


    Building Highlights


    • Two super hot boilers with techmark systems
    • Replumbed to suites
    • Torch on roof replaced (approximately 10 years ago)
    • Hallway upgrades
    • General suite maintenance
    • Full lockers
    • Secured underground parking
    • Updated intercom system
    • Much much more

    Property Details
    Suite Mix 33 One-Bedrooms & 3 Two-Bedrooms
    (Total 36 units)
    Net Operating Income (NOI) $261,826 (Annualized)
    $396,128 (Potential)
    Cap Rate 2.3% (Actual)
    3.4% (Potential)
    Lot Size 23,734 SF
    Zoning RM-3
    Parking 35 underground spaces

    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.

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