1354 E 16th Ave, Vancouver
Sold for $2,320,000
$2,320,000
Sale Price
4
Apartment Units
1977
Year Built
3.50%
Cap Rate
DESCRIPTION
Sold Vancouver 4plex at 1354-1356 E 16th Ave.
Buyer’s representation by Multifamily Real Estate Services in the property’s acquisition.
This prime Vancouver 4-plex has a total square footage of 3660 sq ft. Land square footage of 6053 sq ft of prime East Vancouver land.
Property has 4 suites with full kitchens and 2-bedrooms each. Improvements in 2017 include new roof, designer kitchen, decks, stairs & aluminum canopy & new hot water tank. All units have their own in-suite laundry. Carports and unrestricted street parking are available.
Phenomenal location close to Commercial-Broadway, VCC Clark Skytrain and Kingsway corridor. Exceptional value and strong cash flow from this stunning Vancouver fourplex.
SPECIFICATIONS
Property Type · 4plex
Price Per Unit · $580,000
Year Renovated · 2017
Lot Size · 6,053 Sq Ft
Rentable Area · 3,660 Sq Ft
Suite Mix · 4 x 2-Bedroom
HIGHLIGHTS
High-Growth Neighbourhood
Fully Renovated in 2017
LOCATION
1354 & 1356 E 16th Avenue
Vancouver BC V5T 4G8
Legal Description
Strata Lot 1 & 2 Plan VAS488 District Lot 301 Land District 36 TOGETHER WITH AN INTEREST IN THE COMMON PROPERTY IN PROPORTION TO THE UNIT ENTITLEMENT OF THE STRATA LOT AS SHOWN ON FORM 1 OR V, AS APPROPRIATE
PID
004-134-885, 004-134-877
ABOUT THE DEAL
HOW WE DID IT
As buyer’s representative, we engaged in a focused search around Vancouver. The client was very busy, so we pre-viewed many options to rule them out. The East Vancouver 4plex on E 16th was a definite winner. The location is excellent. And the renovations were extensive. As a bonus for the client, we engaged in a detailed rental rate comparison of buildings nearby, including a brand new building at Knight and E 16th Ave.
WHAT WE LEARNED
A trusted advisor can help weed out bad options quickly. As a broker, Seth has viewed thousands of multifamily properties. He knows a good deal from a bad one. He can often see problems before they arise. Leveraging that experience can save both time and money.
In addition, a rental rate comparison can be a big benefit, especially when a property has turnover or soon-to-be-vacant units.