Fantastic investment and future development opportunity! This well-maintained 2-storey, 10-unit apartment building offers strong, reliable income with approximately $175,000 in annual rental revenue plus an additional $2,000 from laundry. Fully tenanted with long-term, stable renters. Numerous recent upgrades include new roofs, windows, boiler, furnace, exterior paint, and durable laminate flooring throughout'all contributing to lower maintenance costs and tenant satisfaction. Located in a high-demand, transit-friendly area close to shopping, schools, and amenities. This is a prime holding property with excellent cash flow and long-term value. Even more attractive is its location within a potential land assembly zone, with future redevelopment potential for up to 20-storey high-rise. Whether you're looking for steady income now or strategic upside in the future, this is a rare and solid opportunity for investors and developers alike.Secure this high-performing asset in a growing neighborhood! (id:58426)
| MLS® Number | C8069198 |
| Property Type | Multi-family |
| Neigbourhood | Edmonds |
| ConstructedDate | 1958 |
| SizeInterior | 9000 Sqft |
| Acreage | No |
| SizeIrregular | 9000 |
| SizeTotal | 9000 Sqft |
| SizeTotalText | 9000 Sqft |
| ZoningDescription | Rm3 |
https://www.realtor.ca/real-estate/28312483/6822-arcola-street-burnaby
Contact us for more information
Naomi Wang
Personal Real Estate Corporation
Lynn Choy
Personal Real Estate Corporation
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