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Multifamily

Waldorf Manor

7466 14th Ave, Burnaby, BC V3N 1Z8

Listing Price: $22,000,000

Cap Rate
3.52%
Number of Units
68
GRM
18.87
Price/Unit
$323,529
Price/Gross SF
$360.98
Gross SF
60,946

Investment Overview

The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire two adjacent apartment buildings, collectively known as “Waldorf Manor”, in Burnaby’s Edmonds neighbourhood.

Waldorf Manor is comprised of a combined total of 68 units (50 and 18 respectively) and is improved upon 60,946 square feet of land offering substantial scale for future redevelopment potential. Both buildings feature a strong and diversified suite mix of bachelor, one bedroom, and large two bedroom units.

While the two properties hold independent titles they must be purchased together as a package.

Investment Highlights

  • Strategically located just off Kingsway, with convenient access to both Edmond's Town Centre and New Westminster.
  • Ample covered parking between both buildings.
  • Larger building (7466 14th Avenue) has an elevator.
  • Two bedroom units feature massive layouts with balconies and views overlooking the Fraser River.
  • Substantially below market rents present approximately 60% upside upon tenant turnover.
  • Four units are being held vacant for the purpose of the sale.
  • Smaller of the buildings (7448 14th Avenue) has an abundance of excess and underutilized storage space on the ground floor that could potentially be converted into rental units.
  • Hold for redevelopment potential or reposition and sell individual buildings.

Exclusively Listed By

Multifamily

Waldorf Manor

Listing Price: $22,000,000

Cap Rate
3.52%
Number of Units
68
GRM
18.87
Price/Unit
$323,529
Price/Gross SF
$360.98
Gross SF
60,946

Investment Highlights

  • Strategically located just off Kingsway, with convenient access to both Edmond's Town Centre and New Westminster.
  • Ample covered parking between both buildings.
  • Larger building (7466 14th Avenue) has an elevator.
  • Two bedroom units feature massive layouts with balconies and views overlooking the Fraser River.
  • Substantially below market rents present approximately 60% upside upon tenant turnover.
  • Four units are being held vacant for the purpose of the sale.
  • Smaller of the buildings (7448 14th Avenue) has an abundance of excess and underutilized storage space on the ground floor that could potentially be converted into rental units.
  • Hold for redevelopment potential or reposition and sell individual buildings.

Investment Overview

The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire two adjacent apartment buildings, collectively known as “Waldorf Manor”, in Burnaby’s Edmonds neighbourhood. Waldorf Manor is comprised of a combined total of 68 units (50 and 18 respectively) and is improved upon 60,946 square feet of land offering substantial scale for future redevelopment potential. Both buildings feature a strong and diversified suite mix of bachelor, one bedroom, and large two bedroom units. While the two properties hold independent titles they must be purchased together as a package.

Exclusively Listed By

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