406 Union Street Vancouver, British Columbia V6A 2B6

$2,750,000

The HIP-O Building, 406 Union St. A Cool 3 Storey 15 Unit Historic Character Rental in trendy Strathcona, near Heart of Chinatown, mins to D-town, close to new St. Paul's 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 Floors each have a modern kitchen, 2 bathrooms & common area. 1500 SF Bsmt is largely unused/available & contains Coin laund, bike storage & lockers for rent. 2 of the 12 single rooms are COV SRA rental rate restricted, while the rest (incl the 3 S/C Suites) are unrestricted market rentals. 1910 Building retains lots of character but very upgraded, w redone plumbing, elec, floors, kitchens, roof, baths. Gross Income $18k/mo, $216k/yr; NOI $124k/yr, 4.5% Cap Rate. Property professionally managed, well maintained w quality Tenants. Excellent "hands off" investment, or great non-profit housing. Contact LS re viewing, info pkg. (id:28820)

Property Details

Building

Land

https://www.realtor.ca/real-estate/27093537/406-union-street-vancouver