406 Union St | Vancouver, BC V6A 2B6
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406 Union St
Vancouver, BC V6A 2B6
Multifamily Property For Sale · 15 Units
Executive Summary
The HIP-O Building, 406 Union St. Cool 3 Storey 15 Unit Historic Char lncome Bldg Trendy Strathcona, near Chinatown, mins to D/T, blk to new St Paul Hospital. 4500 SF Bldg + 1500 SF unfin Bsmt contains 3 Ground Floor S/C Suites: 2nd & 3rd Floors each contain 6 furnished single rooms each w sink vanity, murphy bed. These Flrs each have a modern kitchen, 2 bathrooms & common area. 1500 SF Bsmt largely unused/available & contains Coin laund, bike storage & lockers for rent. 2 of the 12 single rooms are COV SRA rental rate restricted, while rest incl 3 S/C Suites are unrestricted market rentals. 1910 Bldg retains lots of character but very upgraded, w redone plumbing, elec, floors, kitchens, roof, baths. Gr Inc $17,916/mo, $214,992/yr; NOI $130,157/yr, 4.7% Cap Rate. Property professionally managed, well maintained w quality Tenants. Excellent "hands off" investment, or great non-profit housing. Showings Preferred Fridays Afternoon 2 Day Notice. Call LS viewing, info pkg
PROPERTY FACTS
| Price Per Unit | $183,333 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.73% | Lot Size | 0.04 AC |
| No. Units | 15 | Building Size | 6,100 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1910 |
| Price Per Unit | $183,333 CAD |
| Sale Type | Investment |
| Cap Rate | 4.73% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,100 SF |
| No. Stories | 4 |
| Year Built | 1910 |
Unit Amenities
- Air Conditioning
- Hardwood Floors
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
zoning
| Zoning Code | RT-3 (Residential) |
| RT-3 (Residential) |
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