Multi-family for sale
2056 Franklin Street, Hastings, Vancouver
$9,560,000
$9,560,000
Multi-family for sale
2056 Franklin Street, Hastings, Vancouver
Features
Year Built
1967
Total Space Avail. For Lease (Rent)
13024 sqft
Lot Size
12,078 sqft
Gross Property Tax
$18,429.60 /year
Building Type
Freestanding, Low Rise (2-4 storeys)
Zoning
OCPAPT6STOREY2.40FSR
Subject Property Width
99 ft
Subject Property Depth
122 ft
Amenities
Balconies, Laundry Facility
Suite Mix Information
x Bachelor/Studio, 17 x 1 ½, 4 x 2 ½, 22 x Other
Total no. of Units
22
Description
Over a 4.00% cap rate with further upside in East Vancouver! This 22-unit turnkey apartment building offers 14 renovated units achieving blended rents of $3.45 per SF. Enjoy above-market cashflow while completing the remaining unrenovated units at your own pace. Attractive, in-place CMHC mortgage at 3.77% removes financing risk and AND potentially save over $400,000 in Property Transfer Tax by purchasing the Bare Trust. In the future, enjoy development potential of up to 6-storeys and a 2.40 FSR under the Grandview Woodland OCP. Offered as a package 2228 Triumph Street which is identical in suite-mix and layout, both buildings can be purchased together or separately.
MLS® Number C8052221