5170 Hastings St brochure

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12-Suite Multi-Family Building 5170 Hastings St, Burnaby, BC For Sale $1,980,000 Jackson Tang 604 691 6680 [email protected] NAI Commercial 100 – 535 Thurlow St Vancouver, BC V6E 3L2 tel 604 683 7535 fax 604 691 6688 www.naiapartments.ca Contact information Terry Harding 604 691 6615 [email protected]

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Apartment Building on 5170 Hastings St, Burnaby, BC brochure

Transcript of 5170 Hastings St brochure

Page 1: 5170 Hastings St brochure

12-Suite Multi-Family Building

5170 Hastings St, Burnaby, BC

For Sale

$1,980,000

Jackson Tang604 691 [email protected]

NAI Commercial100 – 535 Thurlow StVancouver, BC V6E 3L2tel 604 683 7535 fax 604 691 6688www.naiapartments.ca

Contact informationTerry Harding604 691 [email protected]

Page 2: 5170 Hastings St brochure

FOR SALE

3846 Sunset StBurnaby, B.C.

The information contained herein has been given to us by the owner of the property or other sources we

deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should

be verified prior to purchase. Ag/5170HastingsSt/July18,2011/TH

Multi-Family Building5170 Hastings St

Burnaby, BC

LEGAL DESCRIPTION: Plan 1254, Lot 11, Block G, DL127, Group 1, except Plan 22210

PID: 003-624-340

LOCATION: The subject property is located in the City of Burnaby, between Delta

Avenue and Springer Avenue, on the south side of Hastings Street.

Shopping facilities and public transportation park are nearby.

LOT SIZE: 79.76’ x 162.93’ = 12,995 sq.ft.

AGE: Constructed in 1965 (42 years old)

ZONING: RM3 (Multi-Family)

TAX ASSESSMENT (2011): Land $1,169,000

Improvement $ 404,000

$1,573,000

SUITE MIX: Building A (front) Two Bedroom

Three Bedroom + Den

Total

4

1

---

5

Building B (rear) Bachelor

One Bedroom + Den

Total

2

5

---

7

Page 3: 5170 Hastings St brochure

FOR SALE

3846 Sunset StBurnaby, B.C.

The information contained herein has been given to us by the owner of the property or other sources we

deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should

be verified prior to purchase.

Multi-Family Building5170 Hastings St

Burnaby, BC

IMPROVEMENT: The subject property consists of two 3-storey

wood-frame, walk-up apartment buildings. 10 suites

have been renovated throughout the last 4 years.

Upgrades in the buildings include:

• New kitchen cabinet

• New bathroom including new sink and bath tub.

• New floor tile in kitchen and bathroom

• Refinishing all the hardwood floor

• New fridges and stoves

• Suites interior have been repainted

• Hallway and exterior of the building have been

repainted

• New hot water tank

• Some windows have been updated with double

glazed.

• Both roofs have been replaced in 2010

The suites are fairly generous in size and offer

hardwood flooring and views. The roof is tar and

gravel and the buildings are heated with hot water

baseboard radiant throughout, provided by a super

hot boiler. The buildings’ exterior are stucco and

repainted. A coin-operated laundry consists of 1

washer and dryer. Overall the buildings are in

excellent condition.

PARKING: 8

4

----

12

open stalls

covered

Total

INCOME ANALYSIS:

Gross Income:

Expenses:

-----------------

Net Income

$134,414

$ 38,273

--------------

$ 96,141

Page 4: 5170 Hastings St brochure

FOR SALE

3846 Sunset StBurnaby, B.C.

The information contained herein has been given to us by the owner of the property or other sources we

deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should

be verified prior to purchase.

Multi-Family Building5170 Hastings St

Burnaby, BC

INVESTMENT ANALYSIS:

Price Per Suite $165,000

Cap Rate 4.9%

Gross Rent Multiplier 14.7

FINANCING: Treat as clear title

ASKING PRICE:

$1,980,000

Subject

Page 5: 5170 Hastings St brochure

FOR SALE

3846 Sunset StBurnaby, B.C.

The information contained herein has been given to us by the owner of the property or other sources we

deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should

be verified prior to purchase.

RENT ROLL

5170 Hastings St

Burnaby, BC

Suite # Suite Type Rent

1 Two Bedroom $ 975.00

2 Two Bedroom $ 975.00

3 Two Bedroom $ 975.00

4 Two Bedroom $ 975.00

5 Three Bedroom + Den $ 1,300.00

6 Bachelor $ 770.00

7 One Bedroom + Den $ 925.00

8 Bachelor $ 575.00

9 One Bedroom + Den $ 975.00

10 One Bedroom + Den $ 894.00

11 One Bedroom + Den $ 925.00

12 One Bedroom + Den $ 925.00

TOTAL $ 11,189.00

Page 6: 5170 Hastings St brochure

FOR SALE

3846 Sunset StBurnaby, B.C.

STABILIZED INCOME & EXPENSE

5170 Hastings St

Burnaby, BC

Jackson Tang604 691 [email protected]

NAI Commercial100 – 535 Thurlow StVancouver, BC V6E 3L2tel 604 683 7535 fax 604 691 6688www.naiapartments.ca

Contact informationTerry Harding604 691 [email protected]

Current

Revenue

Rental Income (Annualized) $ 134,268

Laundry $ 2,160

Less 1.5% vacancy $ (2,014)

Gross Revenue $ 134,414

Expenses

Insurance $ 3,673

Business License $ 360

Laundry Rental $ 840

Sanitation $ 1,260

Hydro & Gas $ 14,000

Water & Sewer (City Utilities) $ 6,224

Property Tax (2011) $ 7,116

Repair & Maintenance $ 4,800

Total Expense $ 38,273

Net Operating Income $ 96,141

The information contained herein has been given to us by the owner of the property or other sources we

deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information

should be verified prior to purchase. Ag/5170HastingsSt/July18,2011/TH