Balmoral Apartments
7050 Balmoral Street, Burnaby, BC
FOR SALE
Property Details
- Site Size 29,621 sf (0.68 acres)
- Year Built 1968
- Storeys 4
- Units 44
- Land Use Designation Mid-Rise Apartment 2 (20 storeys)
- Sale Structure Held in a bare trust
- Cap Rate 4.45%
- Price Per Door $284,091
- Pricing Guidance $12,500,000
Opportunity
The Avison Young Multi-Family Team is pleased to present an opportunity to acquire Balmoral Apartments, located at 7050 Balmoral Street, Burnaby, BC. This well-maintained rental apartment building consists of44-units and features numerous partially and fully renovated suites. The property offers an attractive going-in yield and a land use designation that supports the development of a20-storey residential tower, providing significant long term redevelopment potential and the opportunity to unlock substantial future value.
Investment Highlights
Proximity to Highgate Village Shopping Centre
Potential for property transfer tax savings
Well-maintained building with a strong history of proactive management
Desirable suite mix, predominantly one- and two-bedroom units
Ancillary revenue streams from parking and laundry
Large site offering significant redevelopment potential (up to 20 storeys)
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