The Opportunity – To acquire a residential and commercial investment property with the potential to build a 22,771SF 6 storey rental project

Location

The subject property is located mid-block on the south side of East Hastings Street, the major traffic corridor that runs from Downtown Vancouver thru the City of Burnaby. Two block west, Highway #1 connects the North Shore to Surrey and the Fraser Valley. Kootenay Loop, one block west is a major transit transfer point.

Several condominium developments have been built along Hastings Street close to the property in recent years, and new highrise rentals buildings are under construction at both ends of the block by PCI Developments.

Building Description

The subject building is a two storey wood frame structure built in 1953 with a total floor area of approximately 7,310 square feet and plus an unfinished basement used for storage,. The building contains 3 retail stores on the ground floor and 6 self contained 1 bedroom apartment suites on the second floor. Parking at grade is located along the back of the building.