Multi-family for sale
406 Union Street, Strathcona, Vancouver
$2,750,000
$2,750,000
Multi-family for sale
406 Union Street, Strathcona, Vancouver
Features
Year Built
1910
Floor Area
6,100 sqft
Lot Size
1,525 sqft
Gross Property Tax
$6,775.99 /year
Building Type
Low Rise (2-4 storeys), Residential Mix, Mul Tenant/MultiPlex (5+)
Zoning
RT-3
Subject Property Width
30.5 ft
Subject Property Depth
50 ft
Suite Mix Information
1 x Bachelor/Studio, 2 x 1 ½, 12 x Other
Total no. of Units
15
Financial Summary
$210,594
Description
The HIP-O Building, 406 Union St. Cool 3 Storey 15 Unit Historic lncome Bldg Trendy Strathcona, near Chinatown, mins to D/T, 1 blk to new St Paul Hospital. 4500 SF Bldg + 1500 SF unfin Bsmt completely reno'd 2016-2019 contains 3 Ground Floor S/C Suites: 2nd & 3rd Floors each contain 6 furnished single rooms each w sink vanity, murphy bed. These Flrs each have a modern kitchen, 2 bathrooms & common area. 1500 SF Bsmt largely unused/available w/ Coin laund, bike storage & lockers for rent. 2 of 12 single rooms are COV SRA rental restricted, but rest incl 3 S/C Suites are unrestricted market rentals under COV Housing Agreement. 1910 Bldg retains lots of character but very upgraded, w redone plumbing, elec, floors, kitchens, roof, baths. Gr Inc $17,916/mo, $214,992/yr; NOI $130,157/yr, 4.7% Cap Rate. Professionally managed, well maintained w quality Tenants. Excellent "hands off" investment, or great non-profit housing. Showings Preferred Fridays Afternoon 2 Day Notice. Call LS viewing, info ptg
MLS® Number C8061080