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406 UNION Street
Strathcona Vancouver V6A 2B6

$2,750,000
Multi-Family Commercial

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Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8061080
Build. Type:
Low Rise (2-4 stories)
HIP-O Building 406 Union St. Cool 3 Storey 15 Unit Historic lncome Bldg Trendy Strathcona, near Chinatown, mins to D/T, 1 blk to new St Paul Hospital. 4500 SF Bldg + 1500 SF unfin Bsmt completely reno'd 2016-2019 contains 3 Grd Flr S/C Suites; 2nd & 3rd Flrs each contain 6 furnished single rooms w sink vanity, murphy bed, & each Flrs have a modern kitchen, 2 baths & common area. 1500 SF Bsmt largely unused w Coin laund, bike storage, lockers for rent. 2 of 12 single rooms COV SRA rental restricted, but rest incl 3 S/C Suites are unrestricted market rentals. 1910 Bldg lots of character very upgraded, sprinklered redone plumbing, elec, flrs, kitchs, roof, baths. Inc $17,916/mo, $214,992/yr; NOI $130,157/yr, 4.7% C. R. Prof managed well maintained good Tenants. Great hands off investment, or great non-profit housing OTE! Seller consider VTB 2nd mortgage good terms to Qualified Buyer, call LS for details. Showing Preferred Frid Afternoon 2 Day Notice. Call LS viewing, info pkg. Show Fri Oct 25 11:00am by Appt
Sale Type:
Asset
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories), Residential Mix, Multiple Tenant/Multi-Plex (5+)
# Units:
15
# of Appartments:
3
# of Studio Appartments:
0
# of Penthouse Appartments:
0
# of Bachelor Appartments:
1
# of 4+ Bedroom Appartments:
0
# of 1 Bedroom Appartments:
2
# of 2 Bedroom Appartments:
0
# of 3 Bedroom Appartments:
0
# Storeys:
3.0
Year built:
1910 (Age: 114)
Total Floor Area:
6,100 sq. ft.
Lot Area:
1,525 sq. ft.
Lot Depth:
50
Lot Frontage:
30'6"
Land Use/Zoning:
RT-3
Taxes:
$6,775.99 / 2023
Env Assmt Phase:
Yes
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Listed by RE/MAX Real Estate Services
Data was last updated November 23, 2024 at 08:10 AM (UTC)
AMAR SHAN
DANA BALAN
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Navigating Commercial Real Estate Landscape in Vancouver, BC

Vancouver, BC, stands as a beacon of economic prosperity and cultural diversity, drawing businesses and investors alike to its dynamic commercial real estate market. In this article, we’ll delve into the thriving commercial landscape of Vancouver, exploring key trends, popular sectors, and the factors contributing to the city’s robust real estate sector. Whether you’re an entrepreneur seeking the perfect storefront or an investor eyeing the stability and growth potential of Vancouver’s commercial market, the opportunities are as diverse as the properties themselves. Explore BC commercial properties, especially in Vancouver, and discover a landscape ripe for business success and investment ventures.

Diverse Commercial Sectors

Vancouver’s commercial real estate market spans a diverse array of sectors, catering to the multifaceted needs of businesses. From vibrant retail spaces in bustling neighborhoods like Gastown to sleek office towers in the central business district, the city offers a spectrum of opportunities. The industrial sector, particularly in areas like Mount Pleasant, has also witnessed significant growth, driven by the rise of tech companies and creative industries.

Tech Hub and Innovation

As a burgeoning tech hub, Vancouver has become a magnet for innovative companies seeking prime office spaces to foster creativity and collaboration. The city’s strategic location, coupled with its quality of life, has attracted major players in the tech industry, contributing to the demand for modern, adaptable office spaces.

Green Initiatives and Sustainability

Vancouver places a strong emphasis on sustainability, influencing its commercial real estate landscape. The city’s commitment to green building practices has led to a surge in environmentally conscious developments. LEED-certified buildings and energy-efficient spaces have become integral components of the commercial market, appealing to businesses with a focus on sustainability.

Challenges and Opportunities

Despite its robustness, Vancouver’s commercial real estate market is not without challenges. Limited available space in key areas and rising property values pose obstacles for businesses seeking prime locations. However, this scarcity has also spurred innovative projects, such as mixed-use developments that seamlessly blend residential and commercial spaces.

Investment Appeal

Investors are drawn to Vancouver’s commercial real estate market for its stability and long-term growth potential. The city’s strategic geographical location, strong economic fundamentals, and commitment to innovation create an attractive environment for those looking to diversify their portfolios.

Conclusion: Vancouver, BC Commercial Properties

Vancouver’s commercial real estate landscape continues to evolve, shaped by economic trends, sustainability initiatives, and the city’s commitment to innovation. Whether you’re a local business looking to expand or a global investor seeking lucrative opportunities, Vancouver’s dynamic and diverse commercial real estate market provides a wealth of possibilities.