Multi-family for sale
6822 Arcola Street, Highgate, Burnaby
$3,980,000
Features
Year Built
1958
Floor Area
9,000 sqft
Lot Size
9,000 sqft
Gross Property Tax
$10,454.74 /year
Building Type
See Realtor Remarks
Zoning
RM3
Subject Property Width
75 ft
Subject Property Depth
120 ft
Total no. of Units
10
Description
Fantastic investment and future development opportunity! This well-maintained 2-storey, 10-unit apartment building offers strong, reliable income with approximately $175,000 in annual rental revenue plus an additional $2,000 from laundry. Fully tenanted with long-term, stable renters. Numerous recent upgrades include new roofs, windows, boiler, furnace, exterior paint, and durable laminate flooring throughout—all contributing to lower maintenance costs and tenant satisfaction. Located in a high-demand, transit-friendly area close to shopping, schools, and amenities. This is a prime holding property with excellent cash flow and long-term value. Even more attractive is its location within a potential land assembly zone, with future redevelopment potential for up to 20-storey high-rise. Whether you’re looking for steady income now or strategic upside in the future, this is a rare and solid opportunity for investors and developers alike.Secure this high-performing asset in a growing neighborhood!
MLS® Number C8069198