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406 Union St
Vancouver, BC V6A 2B6
Multifamily Property For Sale
·
15 Units
Investment Highlights
- Strong 15-unit cash-flowing asset with solid NOI and competitive cap rate.
- Flexible suite mix including furnished single rooms and self-contained ground-floor suites.
- Additional income from storage areas and underutilized basement.
- Updated character building with modern systems and well-maintained interiors.
- Professionally managed, stable tenancy and ideal hands-off investment.
- Prime Strathcona location steps from the new St. Paul’s Hospital and minutes to Downtown.
Executive Summary
Located in Trendy Strathcona, 1 Block to the new St Paul Hospital & Health Campus, Future of Medicine in Canada; Minutes to Downtown, & near the Heart of Chinatown. This Historic Character Building is 4500 SF on 3 Floors plus a 1500 SF unfinished Basement. Suite Mix: Ground Floor 3 S/C Suites, 2nd & 3rd Floors Each with 6 Furnished Single Rooms (Total 12), Each with Sink Vanity & Bed. These 2 Floors Each also have Modern Kitchen, 2 Bathrooms & Common Area. There is Coin Laundry, Bike Storage & Lockers for Rent in the 1500 SF Basement which is largely unused/available. 2 of the 12 Single Rooms are City of Vancouver SRA Rental Rate Restricted, while the rest are all Unrestricted Market Rentals including the 3 Ground Floor S/C Suites Each w own Entrance & Address. The Excellent 15 Units Property has Huge Cashflow, Gross Income $17,916/mo, $214,992/yr, NOI $130,157/yr, Cap Rate 5%. The 1910 Building retains lots of Character & has been upgraded, with redone Plumbing, Electrical, Floors, Roof, Kitchens & Baths. The Property is Professionally managed & well maintained with Quality Tenants. This Property is an Excellent "Hands Off" Investment, or Great Non-Profit Housing Opportunity. It is Great for Investors, Owner-Occupiers, Shared Ownership. Showings with 2 Day Notice by Appointment, must confirm attendance. Call Bob Bracken at 604-220-2035 for All Details, Info Pkg, Floor Plan & Viewings. Note: Seller will consider Vendor Take Back (VTB) 2nd Mortgage w Good Terms to Qualified Buyer
Property Facts
| Price Per Unit | $126,389 USD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.14% | Lot Size | 0.04 AC |
| No. Units | 15 | Building Size | 6,100 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | RT-3 - Residential | ||
| Price Per Unit | $126,389 USD |
| Sale Type | Investment |
| Cap Rate | 5.14% |
| 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 | 3 |
| Year Built | 1910 |
| Zoning | RT-3 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Hardwood Floors
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | - | - |
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