6435 Royal Oak Avenue
Burnaby, British Columbia
Building
Stats
- Property Type Multifamily - Low-Rise/Garden
- Year built 1970
- Building size (SF) 30,325
- Size (Ac) 0.72
Overview
Avison Young is pleased to market for sale 6435 Royal Oak Avenue located in the Metrotown area of Burnaby, BC. This property features a 47-unit multi-family apartment building with significant holding income and high-density development potential.
The property is surrounded by amenities, services, and shopping due to its proximity to Kingsway and Metropolis at Metrotown. This transit-oriented site is only a nine-minute walk from Royal Oak SkyTrain Station, with access to numerous bus routes, local elementary and secondary schools, and recreation opportunities located nearby. Under the Metrotown Community Plan, the property may be rezoned to High Density Mixed Use (RM4s/C2) permitting up to 7.45 FSR.
Highlights
PREMIER LOCATION
– Within walking distance of shopping, services, and amenities at Metropolis at Metrotown and along Kingsway
– Close to schools, parks, and Bonsor Recreation centre
TRANSIT AND CYCLING
– Walking distance to SkyTrain and 13 bus routes from Metrotown Station
– Easy access to BC Parkway bike route
SIGNIFICANT HOLDING INCOME
– 98% occupancy rate with below-market rental rates in place (one unit is currently being renovated)
DEVELOPMENT POTENTIAL
– The property may be rezoned for a future high-density mixed-use redevelopment
