DEVELOPMENT SITE WITH HOLDING INCOME 210A Evergreen Drive Port Moody, BC Dean Thomas* 604 726 7137 [email protected]Ashley Osborn* 604 356 5452 [email protected]HQ Commercial 320 - 1385 West 8th Ave. Vancouver, BC V6H 3V9 www.hqcommercial.ca For more information, visit: www.evergreendrive.net FOR SALE 7.17 acres development site in Port Moody Improved with 64 rental townhouses SUBJECT FLAVELLE OCEANFRONT DEVELOPMENT SITE INLET CENTRE SKYTRAIN STATION SEAVIEW COMMUNITY ELEMENTARY SCHOOL CLARK ST ST. JOHNS ST BARNET HWY MOODY CENTRE SKYTRAIN STATION *Personal Real Estate Corporation
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210A Evergreen Drive Port Moody, BC - HQ Commercialhqcommercial.ca/app/uploads/2017/05/BRO-Evergreen-PMoody.pdf · Development Site with holDing income 210A Evergreen Drive Port Moody,
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OPPOrtunityA well located potential redevelopment site covering 7.17 acres, designated as multifamily within the current Port Moody Official Community Plan (OCP). This site presents a developer the opportunity to work closely with the City Planners to create a boutique development incorporating a mixture of market and rental housing.
PrOPErty DESCriPtiOnNestled in the quiet and scenic Glenayre/College Park neighbourhood of Port Moody, the property is surrounded by a tranquil forest, and is steps away from Seaview Community Elementary School. The property offers convenient access to SkyTrain, the West Coast Express, Highway 7, and Trans Canada Highway 1, facilitating commutes throughout the Lower Mainland.
rEntAL unit DESCriPtiOnAll 64 rental townhouses offer 1,800 square feet of living space, comfortably spread over three storeys. These three bedroom, three bathroom homes offer in-suite laundry, and each unit has its own balcony and designated yard space, with fenced backyards providing added security.
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PrOjECt SuMMAry
Civic Address 210A Evergreen DrivePort Moody, BC
PiD 002-483-092
Legal descriptionLot 235 District Lots 202, 268 and 377 Group 1 New Westminster District Plan 33247
Lot size 7.17 Acres (312,325 sq. ft.)
improvements
The property is built out with nine separate buildings comprised of three-storey, 1,800 sq. ft. townhomes
total units 64
year Built Approx 1970
Zoning RM3 (Multi-Family Residential)
nOi (2016) $792,132** (to be confirmed)
Property tax $77,988.83
tax Assessment (2016)
LandImprovementsTotal
$14,056,000$2,296,000
$16,352,000
Price $32,500,000(share sale)
**Based on April 2016 rent roll annualized and 2015 expenses inflated at 2.0%