14-Unit Multifamily Property in Burnaby | $3.939M Transaction
Successful Sale of Multifamily Property in Burnaby’s Westridge Neighbourhood
Case Study: Acquisition of a 14-Unit Multifamily Property in Burnaby’s Desirable Capitol Hill Neighborhood
On January 15, 2019, Sam Emam and his team successfully completed the sale of a 14-unit multifamily property located at 7165 Pandora Street, Burnaby. This transaction highlights Sam’s ability to strategically market multifamily assets, attract qualified buyers, and deliver results in a competitive marketplace.
Transaction Details
Address: 7165 Pandora Street, Burnaby, BC
Sale Price: $3,939,000
Sale Date: January 15, 2019
Cap Rate: 2.7% (Stabilized)
Units: 14
Property Overview
Located in Burnaby’s desirable Westridge neighbourhood, this 14-unit multifamily property attracted significant interest due to its stable rental income, prime location, and future development potential. With its close proximity to major amenities, transportation links, and recreational facilities, the property offered an excellent investment opportunity for multifamily investors seeking growth potential in a strong rental market.
Neighborhood Benefits
The property is situated in the Westridge area, known for its quiet residential charm and accessibility to major hubs. Tenants enjoy close access to transit routes, Burnaby Mountain, parks, and shopping districts such as Kensington Square. The area continues to show strong demand for rental units, making it a sought-after location for investors.
Client Relationship and Market Strategy
Sam and his team were entrusted with marketing the property to a wide range of investors, including local, national, and international buyers. Drawing on their extensive network, they qualified interested parties, arranged private property tours, and maintained open communication with the ownership throughout the process. The team’s comprehensive marketing strategy incorporated direct marketing, paid advertising, social media promotion, and exposure on key commercial real estate platforms to maximize visibility and drive strong buyer interest.
Market Insights
Burnaby’s multifamily sector remained highly active at the time of this sale, with investors seeking well-located rental properties in stable markets. The property’s long-term development potential and solid income stream aligned well with prevailing market trends, enhancing its appeal to strategic investors.
Conclusion
Through diligent marketing efforts and effective negotiation, Sam and his team secured a strong offer that met the seller’s expectations. The successful sale of this 18-unit multifamily property underscores Sam’s ability to deliver exceptional results in competitive market conditions.
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