Multifamily
Waldorf Manor
7466 14th Ave, Burnaby, BC V3N 1Z8
Listing Price: $21,000,000
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.
Waldorf Manor
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
Listing Price: $21,000,000
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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