Investment Property for Sale 245 East Hastings Street Vancouver, British Columbia

Investment Property For Sale 245 East Hastings Street Vancouver, British Columbia

For further information contact JORDAN J. ENG CHRIS TSOROMOCOS Success Realty & insurance Ltd. T.R.G. Commercial Realty Ltd. 604-728-0883 604-725-4519 [email protected] [email protected] Investment Property For Sale 245 East Hastings Street Vancouver, British Columbia Location Zoning 245 East Hastings is strategically located on the north DEOD (Downtown-Eastside/Oppenheimer District) The side mid-block between Main Street and Gore Avenue zoning allows a broad variety of uses including residential, in the Downtown Eastside (DTES), the City’s oldest commercial, and light industrial. neighbourhood. East Hastings Street is the main The property lies within “Sub-Area 1 Main/Hastings” an East-West commercial corridor into Downtown important gateway to Downtown. This area is intended to Vancouver. be a high-density, mixed commercial and residential area. In close proximity is Chinatown, Gastown and The maximum density for any development is a 1.0 F.S.R. Railtown. These neighbourhoods have seen except that the Development Permit Board may permit an substantial commercial office and residential increase in the maximum floor space ratio of 5.0. development in recent years resulting from growth pressures of the Downtown Core. Subject to certain provisions, an increase in the floor space ratio is allowable for retail, service, manufacturing, or The development of the 18.4 acre Station Street site of wholesale uses. the new St. Paul’s Hospital on the False Creek will

have a significant impact on economic development in the area. Property Taxes (2019): $9,104.21 Similarly, the current planning of the North East False Legal Description: Lot 14, Block 10 District Creek Area Plan (NEFC) which includes the removal Lot 196 Plan 184 of the Georgia Viaduct will bring an unprecedented population growth to the area. P.I.D.: 015-684-113

Building Description Lot Size: 25’ X 122’ = 3,050 SF The subject building is two storeys consisting of two retail stores at grade and a large 3 bedroom apartment Price on the second floor. In the 1980s, the building was renovated, including the interior walls, electrical system and plumbing to $2,500,000 accommodate the current tenants. Main floor 1,244 sq. ft. Second floor 1,285 sq. ft. Total Gross Leasable Area 2,529 sq. ft.

These statements are based upon the information furnished by the principals and sources which we deem reliable – for which we assume no responsibility, but which we believe to be correct. This is not intended to solicit any properties that are currently listed. Prospective purchasers or tenants should not construe this information as legal or tax advice. Investment Property For Sale 245 East Hastings Street Vancouver, British Columbia

591 sq. ft. 653 sq. ft.

Main Floor Stores 2nd floor residential 1244 sq. ft. 1285 sq. ft.

The subject property is located within the Downtown Eastside Plan which was approved by City Council in 2014. The Plan provides policy guidance to the area which include the Chinatown and Strathcona neighbourhoods.

Housing Objectives Source: City of Vancouver Downtown Eastside Plan

DTES potential development opportunities and policy proposals Source: City of Vancouver Downtown Eastside Plan

Downtown Coal Harbour

BC Place Gastown False Creek

Chinatown