New Listing 7667 7685 6TH ST, Burnaby, , BC
Great investment / development opportunity on 6th at 13th in Burnaby. 2 storey commercial retail/office grossing $152K/yr on 15,200 sf C-2 lot that the City would allow rezoned to RM-3 townhouses at 1.1FAR w/underground prkg or 0.9FAR w/out. In the meanwhile, +ve CASH FLOW $100K net rents/year while you do your DP/BP/architectural and wait for the Edmonds Town Centre Plan Implementation (Oct 2012?) to allow the concurrent 6th Street Area Plan to follow. Phase 1 & Phase 2 Environmental already done, clean results. 1.1FAR=build 16,720 sf 100% net saleable at $400 to $450psf. Develop now, or hold at 4.2% cap rate!! Serious Investors or Developers!!