1180 Lansdowne Drive, Coquitlam, BC, V3E 1J7, CA

Eagleridge Gardens

Asset description

Covering nearly 4.5-acres of land area in the highly sought-after North Coquitlam area, Eagleridge Gardens represents a unique redevelopment opportunity. Located near the Eagle Ridge Hospital, Coquitlam Centre, and Newport Village, the Property is designated as Medium Density Apartment Residential within the Coquitlam City Centre Area Plan. This designation envisions a mid-rise built form with the potential to achieve up to 1.85 FSR (approx. 360,000 square feet) of density and a maximum height of 8 storeys. Currently, the Property operates as a prominent multi-family rental complex comprising 106-rental suites and generating a net operating income of approximately $1.16 million.

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Attributes

Year built

1981

Units

106

NOI

$828,000

Media

Investment highlights

• Large, 4.49-acre Property with multiple access points and frontages on Lansdowne Drive and Guildford Way.

• Potential for significant increase in density through a phased development up to or exceeding the OCP designation of 1.85 FSR.

• Exceptional park-like setting in a low to mid-rise density area, enjoying the proximity and amenity offering of Coquitlam Centre.

• Immediately adjacent to the Gleneagle Secondary School and Eagle Ridge Outdoor Pool and Tennis Courts; a short distance from the Eagle Ridge Hospital.

• A long-standing, exceptionally well maintained existing multi-family rental building complex offering substantial, stable, and growing net income.