26-Unit Apartment Building in Burnaby Heights | $8.8M Transaction
Successful Sale of 26-Unit Apartment Building in Burnaby Heights
Case Study: Strategic Marketing and Negotiation
On February 18, 2022, we successfully facilitated the sale of a 26-unit apartment building located at 4129 Albert Street, Burnaby, for $8,800,000. Our team implemented a comprehensive marketing and negotiation strategy to achieve this successful transaction.
Transaction Details
- Property Address: 4129 Albert Street, Burnaby, BC
- Sale Price: $8,800,000
- Sale Date: February 18, 2022
- Property Type: 26-Unit Apartment Building
- Lot Size: Approximately 16,104 SF
- Rentable Area: Approximately 18,200 SF
- Year Built: 1971
Property Overview
The property, known as Villa Fortuna, is a solidly built 26-unit apartment building located in the Burnaby Heights neighborhood. This area is one of Burnaby’s most attractive and desirable places to live, shop, and play. The building is situated close to established bakeries, meat shops, cafes, and a variety of restaurants. It is also within walking distance to the Eileen Dailly Leisure Pool and Fitness Centre, Confederation Park, and the Burnaby Public Library. Additionally, it is less than a 10-minute drive to Simon Fraser University (SFU).
Challenges and Solutions
The owners sought to sell their 26-unit apartment building in the competitive Burnaby Heights neighborhood, requiring a strategic approach to maximize value and ensure a smooth transaction. To achieve this, Sam and his team conducted an extensive buyer search, leveraging their database to identify the most qualified buyers within the first month. They launched a targeted marketing campaign that included direct outreach, paid advertising, social media promotion, and exposure on various commercial real estate platforms to attract serious investors. Additionally, they carefully qualified 45 interested groups through phone screenings and arranged private property tours to facilitate the sales process. These efforts generated multiple strong offers, and through effective negotiation, the team secured the highest offer with a quick closing date, delivering an optimal outcome for the sellers.
Market Insights
The Burnaby Heights neighborhood continues to be a desirable market for multifamily investments, characterized by low vacancy rates and strong rental demand. The area’s proximity to amenities, public transit, and educational institutions like SFU enhances its appeal to both investors and tenants.
Conclusion
This transaction underscores our ability to strategically market and negotiate the sale of multifamily properties. Our comprehensive approach ensured a successful outcome for our client.
Testimonial
"My family has been in contact with Sam Emam since 2013 regarding multifamily market data and his menu of services. Once we decided to sell our 26-unit multifamily building, it was an easy decision to go with Sam and his team although we were approached by many larger firms. Sam had our best interest at heart from the early days and not just about a quick sale. Sam also sold one of our friend’s 30-unit apartment building in Burnaby; the sellers were very happy and recommended him based on their success. Sam informed us every step of the way, displayed his diplomatic approach to many interested groups, and stayed focused on the main goal. Sam’s hard work and months of full-service marketing paid off; we got a great price and are looking forward to the next phase of our business venture. We highly recommend his expertise for the sale of your multifamily property."
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