33072 1st Avenue
Mission, BC
FOR SALE
Property Details
- Site Size 7,500 sf (0.17 acres)
- Zoning DT1 - Downtown One
- Official Community Plan Mission City Downtown (up to 4.50 FAR)
- Year Built 1950
- Year Renovated 2014
- Storeys 2
- Gross Leasable Area 14,166 sf
- Residential Suite Mix Studio: 1 | 1-Bed: 3 | 2-Bed: 3
- Stabilized Net Operating Income $201,300*
- Pricing Guidance $4,700,000 ($332 psf and 4.28% cap rate)
Opportunity
Avison Young is pleased to present 33072 1st Avenue Mission, BC (“The Property”) a newly renovated mixeduse investment property in the heart of Mission’s Revitalization District. This two-storey, 14,166 sf building sits on a 0.17-acre lot and has undergone extensive renovations. The property features a strong mix of commercial and residential tenancies, each unit equipped with individual hot water tanks and in-suite washer/ dryers, ensuring low operational costs and long-term appeal. Positioned in a rapidly evolving neighbourhood surrounded by new residential and commercial development, this asset offers excellent future upside for investors seeking stable income and long-term growth in a dynamic urban setting. The property offers significant value add as the commercial space is fully leased and 3/7 residential units are purposely left vacant for immediate lease up at market rates.
