Multi-family for sale

3603-3609, 3611 Commercial Street, Victoria VE, Vancouver

$8,588,000 or
$8,588,000 or

Multi-family for sale

3603-3609, 3611 Commercial Street, Victoria VE, Vancouver

Features

Lifestyle
224958697 8588000 /en/multi-family~for-sale~victoria-ve-vancouver/224958697?view=Summary /en/multi-family~for-sale~victoria-ve-vancouver/224958697/photos 49.2521900000 -123.0683400000 true
Lot Size
10,710 sqft
Gross Property Tax
$45,526 /year
Building Type
Freestanding, Low Rise (2-4 storeys), Commercial Mix
Zoning
MC-1
Subject Property Width
90 ft
Subject Property Depth
119 ft
Amenities
Balconies, Laundry Facility, Secured Building, Secured Parking
Suite Mix Information
4 x 1 ½, 6 x 2 ½
Financial Summary
$320,616
94

Description

The NAI ApartmentBlocks Team is pleased to present the opportunity to acquire two separate neighbouring properties located on Commercial Street. 3603 Commercial was built in 1978 comprising of 10 residential rental suites with 6 two-bedroom suites, and 4 one-bedroom suites. There is a significant opportunity to grow rents on 8/10 residential units and all retail tenancies. The ground floor consists of three retail units, with annual rent increases in place. Tenants are responsible for their utilities and share of property taxes. The roof was replaced in 2014, limiting any immediate capital expenditures. All residential units have separate electric hot water tanks and electric baseboard heating paid by the tenants. Both floors have individual locker rooms and a washer and dryer, that are owned by the building. 3611 Commercial was built in 1968 and consists of a freestanding single-storey industrial building with a gross leasable area of 2,538 square feet on a 3,573 square foot lot.
MLS® Number C8053628

Listing REALTORS®

Robert Desbrisay, REALTOR<sup>®</sup>

Robert Desbrisay

REALTOR®

NAI Commercial

Taylor Durham, REALTOR<sup>®</sup>

Taylor Durham

REALTOR®

NAI Commercial

Jackson Tang, REALTOR<sup>®</sup>

Jackson Tang

REALTOR®

NAI Commercial

Location

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  • The amounts shown above are for information purposes only and do not include taxes, if applicable.
  • You must purchase mortgage default insurance if your down payment is less than 20 per cent of the purchase price of the property.
  • This calculator doesn't calculate the further 2% tax on residential property greater than $3,000,000 or the additional property transfer tax on residential property transfers to foreign entities or taxable trustees. Learn more about property transfer tax.
  • There are additional costs to buying a home. Speak with your REALTOR® for more information.
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