Property Overview

  • Status
    Sold - Pending Completion
  • Address
    Casa Mia
    7268 Balmoral Street
    Burnaby, BC
    Canada
  • Neighbourhood
    Edmonds Town Centre
  • # of Units
    56
  • # of Storeys
    3
  • Year Built
    1967
  • PID
    006-667-902
  • Lot Size
    39,509 SQFT
  • Zoning
    RM3
  • Price
    $16,250,000
  • Confidentiality Agreement
  • The Offering

    Cushman & Wakefield ULC presents value-add investors, housing agencies and multifamily developers the rare opportunity to acquire 100% freehold interest in a 56-suite rental apartment building, situated on an expansive rectangular 39,509 sf corner lot with 330 feet of frontage on Balmoral Street.

    This 56 suite purpose-built rental building was originally constructed in 1967 and has been held by the same ownership family and professionally managed for over
    40 years.

    Strong and secure holding income poised for value-add potential with a path to future redevelopment

    Investment Highlights

    • CENTRAL, TRANSIT-ORIENTED BURNABY LOCATION
    • PROFESSIONALLY MANAGED MULTIFAMILY INVESTMENT ASSET OF SCALE
    • ATTRACTIVE SUITE MIX TOTALLING NEARLY 40,000 SF OF NET RENTABLE AREA
    • CURRENT RENTS ARE APPROXIMATELY 40% BELOW MARKET POTENTIAL
    • CONSISTENT BUILDING IMPROVEMENTS UNDERTAKEN BY CURRENT OWNERSHIP
    • NEARLY AN ACRE CORNER LOT WITH 330’ OF STREET FRONTAGE WITH FUTURE REDEVELOPMENT POTENTIAL TO A HIGHER DENSITY

     

    For more information, please contact a member of the Exclusive Property Advisors

    David Venance
    Executive Vice President

    David Venance

    Chris Harper
    Senior Associate

    Chris Harper

    Patrick Hannah
    Associate

    Patrick Hannah

    Property Location