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VILLA PALAZZO 3880 PENDER STREET Burnaby, BC

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VILLA PALAZZO 3880 PENDER STREET Burnaby, BC www.avisonyoung.com FOR SALE VILLA PALAZZO 3880 PENDER STREET Burnaby, BC Opportunity to acquire a 29-unit rental apartment building located in the Willingdon Heights neighbourhood of Burnaby Rob Greer*, Principal Carey Buntain, Vice President Chris Wieser, Principal 604.647.5084 604.647.1352 604.647.5089 [email protected] [email protected] [email protected] *Robert Greer Personal Real Estate Corp. Villa Palazzo OPPORTUNITY Avison Young, as exclusive agent, is pleased to offer for sale 3880 Pender Street Villa Palazzo – a 29-unit rental apartment building located in the Burnaby, BC Willingdon Heights neighbourhood of Burnaby (the “Property”). The fully-occupied building is located close to main arterials East Hastings and Boundary Road, and is a short walk to an abundance of amenities. This offering presents an investor with the opportunity PROPERTY DETAILS to acquire a multi-family asset that is coming onto the market for the first time since 1972. CIVIC ADDRESS 3880 Pender Street, Burnaby, BC PID INVESTMENT HIGHLIGHTS 006-713-424 LEGAL DESCRIPTION SECURE CASH FLOW with future rental upside LOT “A” BLOCK 15 DISTRICT LOT 116 GROUP 1 NEW WESTMINSTER DISTRICT PLAN 1236 SITE AREA 2.0% Low vacancy rate 18,285 sf (CMHC Burnaby Fall Market Report 2018) ZONING RM-3 18,285 square foot lot FINANCING Clear title Close proximity to PROPERTY TAX (2018) local transit, main $18,674 arterials, and highway 1 STABILIZED NET OPERATING INCOME (2018) $215,707 ASKING PRICE walking distance to local schools, shops, $9,900,000 restaurants, and cafes ($341,379 per door) Subject Property E Hastings St 3880 Pender Street Boundary Rd LOCATION The subject property is located in Willingdon Heights, a desirable neighbourhood with amazing amenities and future amenities currently in development. Shops and services nearby include Safeway, Gilmore Community Elementary, École Alpha Secondary School, Sir John Franklin Elementary School, Burnaby Public Library, Anytime Fitness, McDonald’s and many more. BUILDING FEATURES & UPGRADES full size secured parking stalls Plumbing in all the bathrooms 27 31 storage lockers has been replaced All washrooms kitchen renovations Elevator modernization were fully renovated in 2010 in July 2015 completed in July 2018 roof replaced in 2007 Coin operated laundry room BUILDING DESCRIPTION 1972 3 29 $1,047 Built year Storey’s Total unit Average rent Unit Type No. of Units Average Rents Bachelor 5 $879 Junior Suite 2 $1,001 1-bedroom 19 $1,042 2-bedroom 3 $1,389 Total 29 $1,047 Ã Montrose Park ì1 BURNABY HEIGHTS McGill St BURNABY HEIGHTS PARK Burnaby Central Pacic Railway Coliseum Hastings Racecourse Gilmore Community Elementary Empire PNE Fields 3 4 East Hastings Street 1 2 5 HASTINGS COMMUNITY PARK Ã ì1 Willingdon Ave Willingdon Boundary Rd Renfrew St Renfrew ADANAC PARK WILLINGDON HEIGHTS École Alpha Secondary BRENTWOOD PARK E 1st Ave 26 Brentwood Town Centre SUNRISE 8 PARK 7 9 WALK SCORE 1. McDonalds 4. Starbucks 7. Earls Kitchen+Bar Very Walkable 2. Tim hortons 5. Safeway 8. Cactus Club Cafe 85 Most errands can be accomplished on foot. 3. Anytime Fitness 6. T&T Supermarket 9. Costco Wholesale Partnership. Performance. Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre, Vancouver, BC V6E 3P3, Canada Rob Greer*, Principal Carey Buntain, Vice President 604.647.5084 604.647.1352 [email protected] [email protected] *Robert Greer Personal Real Estate Corp. avisonyoung.com © 2019 Avison Young. All rights reserved. Chris Wieser, Principal E. & O.E.: The information contained herein was obtained 604.647.5089 from sources that we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real [email protected] Estate (B.C.) Inc.; DBA, Avison Young..
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