Investment Opportunity for Someone Looking to Buy Rental Units
If you have been looking to buy multiple one bedroom investment units, then this is the opportunity for you. A new development at E 44th and St George (between Main and Fraser) has a 3-unit strata lot for sale. The 3 units are all self contained 1-bedroom suites. Each suite is 497sqft with a proper bedroom, open kitchen with fridge/stove/dishwasher, in suite washer/dryer, in suite hot water tank, in suite storage, full bathroom with a tub, a coat closet and patio space. Since the development will be brand new, all of the finishings and design will be modern. These three units come with 2 parking spots, designation of use will be your decision based on tenancy agreements and bike storage is available. An example floor plan is attached below, though keep in mind there will be slight variations between units.
The immediate area is quiet and residential, with Fraser St only 1 block away. You’ll be able to find restaurants, grocery, drug stores, banks and more along Fraser St. For some sense of location, the intersection of Main and Broadway is 9 minutes by car and 19 minutes by bike.
The price of all three 1-bedroom units is $1,288,000 + 5% GST, which works out to $1,352,400 or $450,800/unit (which is $907/sqft). It’s getting harder and harder to find a one bedroom unit at that price in this city, no less a brand new one.
If you’re interested in learning more, let me know: [email protected] or 778-387-7371.
Below are renderings of the large townhouses in the complex to give you an idea of the design style:
