Multifamily
Chalet Pender
3848 Pender St, Burnaby, BC V5C 2L5
Listing Price: $10,700,000
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present for sale Chalet Pender, a 36-unit multifamily rental asset located at 3848 Pender Street, Burnaby, BC (the “Property”). Situated on a large 24,382 sf lot Chalet Pender presents investors with the opportunity to acquire a professionally managed building maintained to a high standard in the established Burnaby Heights neighbourhood. The extensive capital upgrades and proven renovation program allow future ownership to unlock
the property’s full rental potential upon tenant turnover with minimal capital outlay.
Chalet Pender
Investment Highlights
- Perched on the slope of Burnaby Heights, Chalet Pender is within two blocks to both the Hastings and Boundary corridors
- Professionally managed by Porte Living with a proactive approach to maintaining and upgrading the property. The building features an elevator, laundry room, and ample parking and storage.
- Within the past 10 years the building has undergone extensive upgrades and improvements to the mechanical and structural infrastructure leaving limited capital exposure to new ownership.
- In-place rental rates for one bedroom units average $2.11per sf while the highest achieved upon renovation are $3.42 per sf representing 39% mark-to-market upside.
- Clear path to income growth with minimal reinvestment necessary upon tenant turnover.
- Situated on over half an acre of land the Property is well-positioned on the border of Vancouver and Burnaby.
Exclusively Listed By
Listing Price: $10,700,000
Investment Highlights
- Perched on the slope of Burnaby Heights, Chalet Pender is within two blocks to both the Hastings and Boundary corridors
- Professionally managed by Porte Living with a proactive approach to maintaining and upgrading the property. The building features an elevator, laundry room, and ample parking and storage.
- Within the past 10 years the building has undergone extensive upgrades and improvements to the mechanical and structural infrastructure leaving limited capital exposure to new ownership.
- In-place rental rates for one bedroom units average $2.11per sf while the highest achieved upon renovation are $3.42 per sf representing 39% mark-to-market upside.
- Clear path to income growth with minimal reinvestment necessary upon tenant turnover.
- Situated on over half an acre of land the Property is well-positioned on the border of Vancouver and Burnaby.
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present for sale Chalet Pender, a 36-unit multifamily rental asset located at 3848 Pender Street, Burnaby, BC (the “Property”). Situated on a large 24,382 sf lot Chalet Pender presents investors with the opportunity to acquire a professionally managed building maintained to a high standard in the established Burnaby Heights neighbourhood. The extensive capital upgrades and proven renovation program allow future ownership to unlock the property’s full rental potential upon tenant turnover with minimal capital outlay.
Exclusively Listed By
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