7120-7180 Pandora St - Apartments FOR SALE


Burnaby, BC V5A 1B7
$20,000,000 CAD
778-653-8311
7120-7180 Pandora St, Burnaby, BC for Sale
$20,000,000 CAD
Apartments - FOR SALE
1/7
null | 3% Cap Rate

7120-7180 Pandora St
Burnaby, BC V5A 1B7


HIGHLIGHTS

  • 2024 NOI Approx $600,000
  • Boost immediate income by installing in-suite laundry, a high value feature for 2 and 3 bedroom apartments
  • Open surface parking presents redevelopment potential without disrupting or relocating existing tenants
  • Purchase price negotiable for the right offer

OVERVIEW

Burnaby Mountainview Apartments is comprised of 4 contiguous buildings addressed as 7120, 7140, 7160, 7180 Pandora Street. - 48 units, 2 bed and 3 bed - 3% rent increase took effect on May 1, 2025 for 40 of the 48 units in the building - Infill opportunity to add additional 20+ rental housing units on surface level parking area without incurring tenant displacement and tenant relocation costs Cost-Effective to Operate: - No elevators to maintain or modernize. - No below grade leaky parkades or costly membrane replacement projects - No lobby’s and no long hallways to upgrade or modernize, each address has its own separate entrance - Designed to 90% efficiency with 47,000 of net rentable area Consistent year over year income growth. Rent increase on tenant turnover averaging 30% in 2025. All suites are large and feature in-suite storage rooms. Opportunity to install in-suite laundry and increase rents by $200 /month/unit Potential to redevelop the large surface area parking without incurring any tenant displacement or tenant relocation costs.

FOR SALE DETAILS

PRICE

$20,000,000 CAD

PRICE/SF

$426 CAD /SF

# OF UNITS

48

PRICE/UNIT

$416,667

CAP RATE

3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Burnaby Mountainview Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,014 SF

ZONING

RM2

APN/PARCEL ID

002674491

ASK ABOUT THIS PROPERTY

Bob MooreDexter RealtyMore Info
778-653-8311

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Bob MooreDexter RealtyMore Info
778-653-8311

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.