5 MultiFamily Properties in Burnaby’s Metrotown Neighborhood | $14.5M Transaction
Successful Sale of 5 Contiguous MultiFamily Properties in Burnaby’s Metrotown Neighborhood
Case Study: MultiFamily Investment Property Success Story
On April 15, 2016, Sam Emam and his team achieved a landmark transaction, facilitating the sale of a prime multi-family development site located at 6556, 6566, 6580 & 6596 Marlborough Avenue, Burnaby, BC. This 36,423-square-foot property, located in the rapidly evolving Metrotown neighborhood, was sold for $14,500,000, reflecting a competitive price of $398 per square foot.
Transaction Details
- Sale Price: $14,500,000
- Land Size: 36,423 square feet
- Price per SF: $398
- Closing Date: April 15, 2016
- Seller: Louis Silva
- Buyer: Confidential
Property Overview
Situated on five contiguous lots, the property spans approximately 36,423 square feet (330’ x 110.4’). The site currently features three low-rise apartment buildings and one single-family house with a total of 45 rental suites, offering substantial holding income for the buyer while planning redevelopment. The site’s strategic central location attracted significant interest, standing out as a valuable asset in a highly sought-after market for high-density multi-family developments.
Neighborhood Benefits
The Metrotown neighborhood is one of Greater Vancouver’s most dynamic residential and commercial communities. Known for its bustling Metropolis at Metrotown shopping center with over 450 retail stores, the area offers a thriving blend of commercial and residential development. Key transportation hubs, including the Metrotown SkyTrain Station, ensure exceptional connectivity, making the area an ideal location for multi-family and mixed-use developments.
Client Relationship and Market Strategy
The client, Louis Silva, entrusted Sam Emam and his team with this significant transaction, leveraging a long-term relationship built on trust and consistent market insights. Sam’s team deployed a comprehensive marketing strategy combining traditional and digital channels, targeting developers interested in Burnaby’s expanding real estate market. Their in-depth knowledge of market trends and buyer expectations resulted in a seamless transaction that exceeded the seller’s goals.
Market Insights
Burnaby’s Metrotown continues to experience strong demand for development sites, driven by its vibrant commercial and residential appeal. Properties like this one, offering holding income and development potential, remain highly sought-after by developers looking to capitalize on the area’s growing population and infrastructure.
Conclusion
This transaction demonstrates the expertise of Sam Emam and his team in navigating complex real estate deals, ensuring optimal outcomes for clients in competitive markets. Their strategic approach, deep market knowledge, and unwavering commitment to client success position them as leaders in multifamily and development site transactions.
Testimonial
"Sam Emam and his team sold my portfolio of multifamily buildings at 6556, 6566, 6580, and 6596 Marlborough Avenue in Burnaby. I also bought two multi-family buildings located at 3591 Oak Street in Vancouver and 6665 Royal Oak Avenue in Burnaby through Sam. I found him to be ethical, professional, and an amazing negotiator. Sam handled all the moving parts of each deal like a true professional and with a great attitude. I highly recommend dealing with Sam if you’re thinking of selling or buying multi-family buildings or development sites."
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