Real Estate Investment: Multi-Use Property in Port Moody - 2325 St. Johns St.

About This Property

Located directly on St. Johns Street. This custom built mixed-use property is perfectly designed for the property investor looking for good holding income and future development potential, as well as the residential owner looking for strong rental income from the multiple suites and commercial office. This unique property has 3 residential units. A 1BD and 2BD ground floor suite, a 4BD 2nd floor, and a 1664 sq.ft commercial top floor office. The current owner built the property and is willing to sign a 5 year lease + option on the office space, and is willing to rent the 2nd floor and 1BD suites for a 1 year term.

Hightlights

  • Property provides a strong holding income with possibility for future redevelopment.
  • Live in the building and receive a strong mortgage helper income from the top floor commercial unit and the 1st floor rental suites. Office features its own HVAC system and each unit has separate Hydro meters.
  • 7 parking spots are allocated for this property at the rear of the building, plus one additional on the driveway.
  • Built in 2000
  • 100% occupancy
  • 4 units: 1x4 bedroom, 1x2 bedroom, 1x1 bedroom & 1 commercial unit                      
  • Beautiful Multifamily/Office building built in the year 2000 by the current owner. Located at the heart of Port Moody with views from every floor.
  •  4 separate units consisting of a 4 bedroom, 2 bedroom, 1 bedroom and a commercial office unit.
  • Office unit has been occupied for 18 years by a professional chiropractor who has been in business since 1989. Will stay and sign a minimum 5 year lease and 5 year option to renew with new owner.
  • Located next to brand new development Bayview Heights https://bayviewportmoody.com
  • 100% occupancy
  • 1 kilometer from Rocky Point Park and Port Moody Skytrain station
  • Well maintained and cared for with inspection report available during due diligence period

SURROUNDING AREA

This property is directly on a major transit line and benefits from being only a block away from Kyle Rec Centre, The Port Moody Arts Centre, and less than one kilometer from Moody Centre Skytrain. Rocky point Park and Port Moody’s growing Brewers Row is less than a kilometer away. This is a fantastic location for both access to work and play.

Asking Price $2,898,000


 

Initial Cash Required: $816,960

Monthly Cash Flow: $1,238

Annual ROI: 20%

(10 Year Hold)

  

 


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