[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text css=".vc_custom_1637878615685{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
118 West 18th Street, North Vancouver, BC
SUITE TOTAL
21 Units
LISTING PRICE
$8,450,000
STATUS
Sold
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576537099141{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}"]
Schedule A Phone Consultation
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1627408812471{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}"] Brochure Download[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group and CBRE Investment Properties Group are pleased to present a 100% freehold interest in the Cedar Park Apartments located at 118 West 18th Street, North Vancouver, which is just west of the intersection of Lonsdale Avenue and West 18th Street. The property is improved with a 21 suite apartment building (6 bachelors, 12 one-bedrooms, and 3 two-bedrooms) located in the highly desirable and growing area of Central Lonsdale.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="LOCATION MAP (CLICK TO ENLARGE)" title_align="separator_align_left"][vc_gallery type="image_grid" images="4390" img_size=""][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="4389" img_size=""][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
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R. ALLON SHAPIRO
Personal Real Estate Corporation
Vice President & Managing Broker
T +1 604 662 5149
r.allon.shapiro@cbre.com
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[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text css=".vc_custom_1647291902823{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
10232, 10238, 10244, 10250, 10256, 10264 132nd Street
Surrey, BC
CURRENT IMPROVEMENT
24 two-storey townhouses
YEAR BUILT
1982
SITE SIZE
1.54 Acres (approx.)
NET EXISTING BUILDING AREA
66,980 sq. ft. (approx.)
CURRENT ZONING
RM-45 - Multiple Residential 45 Zone
OCP LAND USE
Residential Low to Mid-Rise
PROJECTED FAR
Up to 2.5 FAR
STATUS
Sold
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Schedule A Phone Consultation
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1621292628194{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]
CBRE Limited is pleased to bring to market the opportunity to acquire a large 1.54 acre residential development site centrally located within close proximity to SkyTrain and the rapidly transformed, vibrant Surrey City Centre in Surrey, British Columbia. “Cedarbrae Estates” is a 24-unit stratified townhouse complex that is prominently situated in the heart of Surrey’s rapidly developing City Centre urban hub. Surrey City Centre offers a diverse cross section of world class amenities such as rapid transit; parks & recreation; a new public library; an abundance of shops and services; the state-of-the-art Bell Performing Arts Centre and a variety of secondary/post-secondary education facilities: Simon Fraser University (SFU) and Kwantlen Polytechnic University (KPU) in one of the fastest growing municipalities in the Province!
[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left" color="orange"][vc_column_text]
Large 66,980 square foot rectangular shaped land parcel that is currently improved with six separate buildings comprised of 24 – 2-storey stratified townhomes;
The site is just steps to SkyTrain and the vibrant, thriving Surrey City Centre, anchored by the Civic Plaza & Hotel, new public library, Central City Shopping Mall, Bell Performing Arts Centre, SFU, KPU, West Village Energy Centre & Park and Holland Park;
The property is currently designated as Multiple Residential (low to mid rise) up to 2.5 FAR and permitting up to 4 – 5-storeys in the Surrey City Centre Plan;
Average household income within a 3-km radius of Cedarbrae Estates exceeds $84,980 per annum and is projected to increase to $98,202 in 2025;
Surrey’s condo market has been incredibly active throughout the early part of 2021 with some condo projects reportedly selling out over a period of a few days;
The redevelopment of Cedarbrae Estates would provide a developer the unique opportunity to contribute new housing options in a growing and highly desirable neighborhood close to transit and world class amenities.
BID DATE: September 17, 2021, Friday
Should you have an interest in submitting a Bid Submission, please contact Agnes Cheung at Agnes.Cheung@cbre.com for a copy of the Standard Letter of Intent (LOI) template to be used for all submissions.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_video link="https://youtu.be/lALd9QGadCg" align="center" title="Property Video - Click to view"][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="LOCATION MAP (CLICK TO ENLARGE)"][vc_single_image image="4326" img_size="full" alignment="center" onclick="custom_link" img_link_target="_blank" link="https://multifamilybc.cbrevancouver.com/code/wp-content/uploads/2021/05/Cedarbrae-Estates-Aerial_Label_Pano-scaled.jpg"][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="4325,4331,4329,4330" img_size=""][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Associate Vice President
T +1 604 662 5178
greg.ambrose@cbre.com
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KEVIN MURRAY
Senior Sales Associate
T +1 604 662 5171
kevin.murray4@cbre.com
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CIVIC ADDRESS
3250 Rock City Road,
Nanaimo, BC
SUITE TOTAL
168
STATUS
SOLD (September 2021)
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576537099141{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}"]
Schedule A Phone Consultation
[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group - BC is pleased to present the exclusive opportunity to acquire the Pine Ridge Village rental apartment building centrally located on Vancouver Island in the City of Nanaimo, British Columbia.
The Pine Ridge Village Apartments has an excellent suite mix designed to maximize rental revenue. Tenants of the Pine Ridge Apartments enjoy being within walking distance of a host of amenities including the Country Club Shopping Centre, Transit, and both the Rock City Elementary and Wellington Secondary schools.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]SCALE WITH SIGNIFICANT LAND
168 suites in 4 buildings situated on 4.25 acres.
SUITE MIX
168 suites comprised of 146 two-bedrooms and 20 three-bedrooms designed to maximize revenues.
SIGNIFICANT RENTAL UPSIDE
Current rents are below market rental rates presenting investors with the opportunity to increase rents to market on turnover.
STRATEGICALLY LOCATED
Pine Ridge Village Apartments are strategically located in Nanaimo offering tenants convenient access to amenities like grocery anchored shopping, transit, schools and cafes and restaurants.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="4342" img_size=""][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Associate Vice President
T +1 604 662 5178
greg.ambrose@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
KEVIN MURRAY
Senior Sales Associate
T +1 604 662 5171
kevin.murray4@cbre.com
[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width="1/3"][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text][/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]
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CIVIC ADDRESS
520 Eighth Street, New Westminster
PID
013-606-476
YEAR BUILT
1969. Improved: 35 out of 56 Units (2019 - 2021)
SUITE TOTAL
56 + Conditional City approval for 5 additional ground level suites
SIZE RANGE
457 sq. ft. - 770 sq. ft.
SITE SIZE
31,632 sq. ft.
PARKING STALL
56
STABILIZED NOI
$559,846
STATUS
Sold
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576537099141{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}"]
Schedule A Phone Consultation
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1623374730271{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}"] Brochure[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Offering" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group – BC has been retained by the Owner on an exclusive basis to offer the 100% interest in the “Cedargrove Apartments”, a large scale, 3-storey, 56 suite rental apartment building prominently situated in New Westminster’s highly desirable Uptown neighborhood. The Cedargrove Apartments is conveniently located just steps from Moody Park’s 23-acres & recreational facilities and the Royal City Centre Mall providing tenants with immediate access to cross section of quality retailers such as Wal-Mart, Shoppers Drug Mart, Winners and Save-On-Foods. Tenants of Cedargrove Apartments enjoy the convenience of a Transit stop located just at the front of the building, and the Columbia SkyTrain Station is located within a short 15 minute walk from the property, providing fast and convenient access to Downtown Vancouver and areas throughout Metro Vancouver.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]APARTMENT BUILDING OF SCALE
The Cedargrove Apartments represents a rare opportunity to acquire a large 56-suite apartment building providing investors with scale providing management & operational efficiencies.
TENANT FRIENDLY LOCATION
Prominently situated in the heart of Uptown New Westminster, tenants of the Cedargrove Apartments benefit from being adjacent to Moody Park, across the street from Royal City Centre Mall and just steps from transit and a host of tenant friendly amenities.
VALUE-ADD OPPORTUNITY
With many of the rents still significantly below market, the Cedargrove Apartments provides investors with a value-add opportunity to continue to update the property and renovate the suites through a renovation program and significantly improve the rental revenue by moving the rents to market on turnover.
STRONG MARKET FUNDAMENTALS
The Cedargrove Apartments is centrally located in Metro Vancouver and is well positioned to benefit from the regions low vacancy rates, growing population and upward pressure on rents.
CLEAR TITLE AND BARE TRUST
Title will be delivered free and clear of all financial encumbrances allowing prospective purchasers to capitalize on the current low interest rate environment, and the title to the property is held in a Bare Trust which may provide for significant tax savings[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="4358,4360,4361,4362,4363,4364,4365" img_size=""][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
CBRE
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
JOEL KERRY WASEL
Personal Real Estate Corporation
Sutton Group West Coast Realty
Senior Sales Executive
T +1 604-805-9786
jwasel@shaw.ca
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[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1637950794566{margin-bottom: 0px !important;}"]
ADDRESS
8860 Montcalm Street, Vancouver, BC
YEAR BUILT
1964
BUILDING SIZE
24 Suites
SUITE MIX
9 x Bachelor Suites
14 X One Bedroom
1 X Two Bedroom Penthouse
Total = 24 Suites
NOI
$210,708
PRICE PER SUITE
$370,000
STATUS
SOLD
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1574363713084{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}"]
Schedule A Phone Consultation
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1631318287994{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="The Offering" title_align="separator_align_left"][vc_column_text]CBRE Limited has been retained by the Owner on an exclusive basis to offer the 100% interest in the “8860 Montcalm Street Apartment Building”. This 3-storey plus Penthouse, 24-unit contemporary apartment building comprises a unique and desirable suite mix including; 1-two bedroom Penthouse suite complete with exterior deck and good views, 14 exceptionally large one bedroom suites and 9 well laid-out bachelor suites. The property is ideally situated in a proven rental market as Vancouver’s Marpole neighborhood has historically enjoyed high occupancy rates.[/vc_column_text][vc_text_separator title="Location" title_align="separator_align_left"][vc_column_text]COVETED MARPOLE LOCATION!
The “8860 Montcalm Street Apartment Building” is strategically located mid-block on Montcalm Street within the growing Marpole neighborhood on Vancouver’s west-side. The property is just steps from the South Granville Retail Commercial Corridor, providing immediate access to an excellent mix of restaurants, specialty shops & services, grocery and many other tenant-friendly amenities.
The recent influx and transformation of the nearby Granville Corridor and the Marine Gateway area has attracted new retailers and notable hot spots such as Shoppers Drug Mart, T&T Supermarket, Starbucks, Winners, Cineplex Cinemas, numerous banks and many other shops and services.
8860 Montcalm Street is steps to major bus routes and a 17-minute walk to the new rapid transit “Marine Drive Station” linking Richmond and the Airport with Downtown Vancouver which will continue to attract and retain quality tenants.[/vc_column_text][/vc_column][/vc_row][vc_row full_width="stretch_row" disable_element="yes" css=".vc_custom_1523919993135{background-color: #f2f2f2 !important;}"][vc_column el_id="location"][vc_text_separator title="Location"][vc_column_text]The “Garden Manor Apartments” is strategically located on the northwest corner of Garden Avenue and Triumph Street within East Vancouver’s trendy Grandview Woodland Neighborhood. The subject property is just minutes from Downtown Vancouver, the Trans-Canada Highway, the North Shore and Vancouver Harbour. Garden Manor is within walking distance to the transforming East Hastings Corridor, which is being rejuvenated with numerous planned mixed-use developments comprising a complementary mix of residential, retail, shops and services. The property is also conveniently located just a few blocks from Commercial Drive comprising an electric mix of restaurants, specialty shops & services, grocery and many other tenant-friendly amenities.
The recent influx and transformation of the area surrounding the subject property has attracted new retailers and notable hot spots such as JJ Bean Coffee Roasters, Parallel 49 Brewing Company, The Red Wagon and the Tacofino Commissary, which are all located in close proximity to the Garden Manor Apartments.
2285 Triumph Street's close proximity to Downtown Vancouver, walking distance to an excellent cross section of tenant-friendly amenities and its location in a safe, quiet and friendly neighborhood will continue to attract and retain quality tenants.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width="1/3"][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner][vc_column_text]LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
National Apartment Group - BC
CBRE Limited, Capital Markets
T +1 604 662 5141
lance.coulson@cbre.com[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text]KEVIN MURRAY
Senior Sales Associate
National Apartment Group - BC
CBRE Limited, Capital Markets
T +1 604 662 5171
kevin.murray4@cbre.com[/vc_column_text][vc_column_text]GREG AMBROSE
Associate Vice President
National Apartment Group - BC
CBRE Limited, Capital Markets
T +1 604 662 5178
greg.ambrose@cbre.com[/vc_column_text][/vc_column][vc_column width="2/3" css=".vc_custom_1524083617313{margin-top: 0px !important;margin-bottom: 0px !important;}" el_id="walkscore"][vc_row_inner el_class="walkscore"][vc_column_inner width="1/3"][vc_column_text]
Walk Score
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Transit Score
[/vc_column_text][vc_cta h2="" txt_align="center" el_width="sm" add_icon="top" i_type="material" i_icon_material="vc-material vc-material-directions_bus" i_color="white" i_size="xl" css=".vc_custom_1528478590256{background-color: #0f3b46 !important;border-radius: 25px !important;}"]59[/vc_cta][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
Bike Score
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CIVIC ADDRESS
126 Mt. Benson Street,
Nanaimo, BC
SUITE TOTAL
22
STATUS
SOLD (August 2021)
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576537099141{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}"]
Schedule A Phone Consultation
[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group - BC is pleased to present the exclusive opportunity to acquire Blue Water Towers, 22-suite boutique apartment building and well located just steps from the Nanaimo Harbourfront.
The Blue Water Towers presents the opportunity for investors to acquire a well-located rental property with an excellent suite mix with the opportunity to improve rents on turnover.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]EXCELLENT LOCATION
Located just steps from the Harbourfront, tenants of the Blue Water Towers benefit from being able to enjoy the Harbourfront Prominade and are walking distance from a number of amenities.
IDEAL BUILDING SIZE
With 22-suites, the Blue Water Towers is small enough for an owner to self-manage and large enough to support property management.
EXCELLENT SUITE MIX
The Blue Water Towers has a well-balanced suite mix consisting of 13 x 1-bedrooms, 8 x 2-bedroom and a rare 3-bedroom.
VALUE-ADD OPPORTUNITY
Current rents are below market rental rates presenting investors with the opportunity to increase rents to market on turnover.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="4344,4345" img_size=""][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Associate Vice President
T +1 604 662 5178
greg.ambrose@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
KEVIN MURRAY
Senior Sales Associate
T +1 604 662 5171
kevin.murray4@cbre.com
[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width="1/3"][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text][/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]
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CIVIC ADDRESS
719 Nightingale Crescent
Nanaimo, BC
SITE AREA
18,589 Sq. Ft.
SUITE MIX
3 Bedrooms - 10
FINANCING
Clear Title
OCCUPANCY
100%
FINANCING
Clear title
PARKING
Surface Parking with Covered Stalls
STATUS
Sold
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576537099141{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}"]
Schedule A Phone Consultation
[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group - BC is pleased to present the exclusive opportunity to acquire the Nightingale Apartments which is a stratified 10-suite apartment building consisting of all 3-bedroom units and well located across the street from the Nanaimo Regional General Hospital.
3-bedroom rental units are rare and hard to find in the Nanaimo rental market. The combination of the 3-bedroom suites and the buildings proximity to the hospital will allow investors to attract quality tenants and drive revenue.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]LOCATION
The property’s proximity to the Nanaimo Regional Hospital and surrounding medical related clinics and businesses will allow it to attract and retain quality tenants.
UNIQUE SUITE MIX
It is unique to find an apartment building consisting of all 3-bedroom suites which are rare in the Nanaimo rental market and will allow investors to drive revenues.
VALUE-ADD OPPORTUNITY
Current rents are below market rental rates presenting investors with the opportunity to increase rents to market on turnover.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="4347" img_size=""][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Contact" title_align="separator_align_left"][vc_row_inner][vc_column_inner width="1/3"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
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GREG AMBROSE
Associate Vice President
T +1 604 662 5178
greg.ambrose@cbre.com
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KEVIN MURRAY
Senior Sales Associate
T +1 604 662 5171
kevin.murray4@cbre.com
[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width="1/3"][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text][/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]
[vc_row][vc_column width="1/3"][vc_text_separator title="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1629129858948{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
1777 Frances Street, Vancouver, BC
PID
015-164-055
SUITE MIX
One-Bed 27
Bachelor 32
Total = 59
SITE SIZE
26,840 SF (220' x 122')
*approx & subject to verification
NET RENTABLE AREA
32,519 SF
CURRENT ZONING
RM-4
OCCUPANCY
100% Leased
PARKING
59 Underground Stalls
STABILIZED NOI
$495,854
STATUS
SOLD
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576537099141{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}"]
Schedule A Phone Consultation
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1621372979922{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #bfd857 !important;}" el_class="brochure"] Download Brochure[/vc_column_text][/vc_column][vc_column width="2/3"][vc_text_separator title="The Opportunity" title_align="separator_align_left"][vc_column_text]The CBRE National Apartment Group - BC is pleased to present the opportunity to acquire the 100% interest in the Louise Court Apartments, a fully leased & well-maintained 3-storey 59-suite rental apartment building with secured underground parking situated on a large corner lot in the heart of East Vancouver, just steps from the vibrant Commercial Drive & Port Town neighbourhoods and only minutes from Downtown Vancouver.
The property comprises an excellent suite mix of spacious one-bedroom suites and large bachelor suites (ranging from 438 - 554 SF), many of which could potentially be converted into junior one-bedroom suites as an opportunity to further increase overall return on investment.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]
Prime East Vancouver Location: The Property is well located in East Vancouver’s highly sought-after Commercial Drive neighbourhood, just steps from transit and an excellent assortment of restaurants, boutique shops and services, a vibrant music and bar scene, cafes, and specialty food stores.
A Building of Scale: In a market dominated by smaller apartment buildings, the Louise Court Apartments offer investors a unique opportunity to acquire a building of scale with 59 larger than average suites, providing both operational and management efficiencies.
Upside & Repositioning Opportunity: The Louise Court Apartments offer prospective investors the opportunity to increase cash flow by raising rents to market on turnover and repositioning and converting the large studio suites to Junior one-bedroom suites.
Long-term Future Redevelopment Potential: The Subject Property is prominently situated on a large 26,840 square foot corner lot with 220’ of prime frontage onto Frances Street and is included in the Grandview-Woodland Official Community Plan (OCP), which allows for redevelopment of up to 6-storeys with a maximum density of 2.4 FSR.
Recent Capex Improvements: The building has undergone a number of capital improvements in recent years, some of which include: partial roof replacement, plumbing updates, balcony updates as required, new common area lighting & carpets, and updated kitchen and bathroom fixtures in a number of the suites.
Tenure: The property will be offered free and clear of financial encumbrances, providing prospective purchasers the opportunity to capitalize on the current low interest rate environment.
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LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
T +1 604 662 5141
lance.coulson@cbre.com
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GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
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ALEX VASSOS
Senior Sales Associate
T +1 604 662 5174
alex.vassos@cbre.com
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