Mixed-use Building in 300 Block of East Hasting Street in area of future growth and development. DEOD zoned 25’x122’ lot, 3 level 4200 SF (approx.) Bldg. Main floor has 1 Commercial space leased to Health Agency, and 1 Retail store rented to long term proprietor. Upper floors has three 2 Bdrm Suites and 1 Bdrm Suite rented to long term Tenants. Gr Income $6580/mo, $78,960/yr, Cap Rate 3.6% with substantial rental upside. Potential Income $10,970/mo, $131,640/yr based on rentable $2.80/net SF/mo & Potential Cap Rate 6.7%. Adjacent property at 320 E Hastings being developed for 11 Storey social housing project (estimate completion 2025). The Local Area Plan (LAP) for this section of the Downtown Eastside Oppenheimer District (DEOD) allows for low income mixed use housing of up to 5.0 FSR, 75' Building Height, so there is future assembly/rezoning/development potential for the property. All Showings by Appointment Only with 2 day notice, must confirm. Please contact Bob Bracken at 604-220-2035 to book Showings Appointment, Info Pkg, All Details.
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