Investor’s Opportunity

205 2745 Hastings-800


205, 2745 E Hastings Street

MLS ListingV951286
Listing Price: $306,000
Floor area: 749
Maintenance Fee: $161.14

Total number of units in building, 18residential (+ 3 commercial); 16 Residential sold. Unit #205 and #302 last two units. Currently 13 owner occupied units.

PROS

  1. The location – With a car, you have access to Metro Vancouver via major corridors. Hastings takes you East to Burnaby and West to down town Vancouver. Just off highway #1 you can be on your way to North Vancouver, New West, Coquitlam and Surrey in less than 2 minutes. It is also located along a major transit route.  The Pacific coliseum, Hastings Park, Playland (PNE) and various parks are all within walking distance.
  2. Investment opportunity – there is still developments to be made in the area, but progress is happening. Even with the slow, but progressive change, the community has heart. Great restaurants, little shops and local markets with reasonable prices, make it even that much affordable to live and enjoy.
  3. It’s new (with no HST) – the area traditionally has older apartment buildings or detached homes. This is one of the few new developments to choose from. As such, there are some bonus features such as in-suite laundry that homeowners can enjoy. You can choose to have the whirpool packaged added or select your own appliances. The den is not completed, so you have the option to add a wall or keep the space as a dining room. The flooring and countertops give a luxury feel and there is a decent walk-in storage closet within the unit. Currently there are no storage cages, but this is being considered as an add on.
  4. Cupboard space – The kitchen is roomy and has plenty of cupboard space.

CONS

  1. Bedroom – Small, very small. I suspect you can only fit a queen bed and that’s it. In addition, you can only access the patio off the bedroom, not the living room.  Closet size is small, considering the fact you wouldn’t be able to have a dresser.
  2. The kitchen – Separated from the main living area, therefore, the space is not an open concept. I’m also not a fan of the cupboard finish.
  3. The tub – is small and low. Would have been nice to have a longer and deeper soaker option with the new build.
  4. View – not much of one. Over looking Hastings Street, mind you the sound wasn’t bad (with windows closed).

There is also unit #302 available for $299,000. Smaller unit, 651sqft, but facing North with a great views of the North Shore mountains. The biggest downfall for the unit, no patio.

From my home to yours…
– Irene

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