Property Case Study

Dundas Portfolio

SUMMARY

ADDRESS 2154 & 2164 Dundas St, Vancouver, BC
# OF UNITS 21 Suites (Combined)
SITE SIZE 17,424 SF
SALE DATE Oct 2018
SALE PRICE $9,400,000

TRANSACTION DETAILS

The sale consisted of two separate properties which includes a three storey, 18-suite rental apartment building at 2154 Dundas Street and a 3-suite rental house, situated on a large rectangular shaped corner site comprising approximately 17,424 SF with 148.5 feet of prime frontage on Dundas Street.

2154 Dundas Street contains 18 suites and recently underwent an extensive retrofit which included updated plumbing and electrical and is currently 100% occupied. 2164 Dundas Street is a rental house containing 3 self-contained two and three bedroom suites. The property has a new roof, some interior improvements and is currently vacant, providing the purchaser with flexibility while considering redevelopment.

The Subject Property is currently zoned RM-3A and is situated within the “Cedar Cove Dundas Shopping Node” of the recently approved Grandview-Woodland Community Plan. The Cedar Cove Dundas Shopping Node allows for a mixed-used development for 100% secured rental building up to 6-storeys with a density up to 2.65 FSR.