[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_1617729039525{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
1629 St. George Ave
North Vancouver, BC
PID
010-719-504
NET RENTABLE AREA
16,387 SF
LOT SIZE
9,299 SF (approx.)
PARKING
7 parking stalls
STORAGE
21 secure storage lockers
YEAR REBUILT
2013 (originally built in 1964)
TOTAL SUITES
22 Suites
STATUS
SOLD
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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 Avesta Apartments is a newly re-built luxury 5-storey 22-suite rental apartment building located in North Vancouver's Central Lonsdale neighbourhood, just 2 blocks East of the vibrant Lonsdale Corridor, providing quick access to grocery stores, restaurants, and services, and is 2 blocks North of Lions Gate Hospital.
In 2013 the Property was stripped down to the studs and completely rebuilt and expanded by 2 additional storeys.
Suites are larger than average and feature contemporary high-end finishes with new flooring, newly built kitchens and bathrooms, modern appliances which include dishwashers, in-suite laundry, and open-concept floor plans with large windows providing an abundance of natural light. There are 21 secured storage lockers and bicycle storage units also available.
The Avesta Apartments offers investors a turn key investment that has been professionally managed since its completion. With minimum capital expendituresexpected for the property, this is an ideal cash flowing asset for the foreseeable future situated in the heart of North Vancouver.
[/vc_column_text][vc_text_separator title="Details" title_align="separator_align_left"][vc_column_text]Please contact us at 604.662.5141 or 604.662.5171 for more information.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_empty_space height="42px"][/vc_column_inner][/vc_row_inner][vc_single_image image="4180" img_size="full" alignment="center"][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height="52px"][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="4182" 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]
KEVIN MURRAY
Senior Sales Associate
T +1 604 662 5171
kevin.murray4@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text][/vc_column_text][/vc_column_inner][/vc_row_inner][/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.
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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_1568847160882{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
1383 East Broadway, Vancouver, BC
PARCEL IDENTIFIER
010-562-559
LOT SIZE
16,077 Sq. Ft.
(132.03 x 121.94 Ft)*
*All measurements are approximate and subject to verification by the purchaser
SUITE MIX
28 X One-Bedroom
2 X Studio Suites
Total = 30 Suites
NET OPERATING INCOME
$301,838
LIST PRICE
$11,850,000 ($395,000/Suite)
CURRENT ZONING
RM-4N Multiple Family Dwelling
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1574362662164{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_1568914303790{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="Prime Location" title_align="separator_align_left"][vc_column_text]McLean Manor Apartments is ideally located in the heart of Grandview-Woodland, one of Vancouver’s most saught-after neighbourhoods. The Subject Property is ideally situated on East Broadway and is just 3 blocks from the famous Commercial Drive, providing an abudance of amenities, transit options, recreation facilities, dining, and entertainment.
The Subject property is located within the Commercial-Broadway Station Residential Precinct, one of the areas of focus in the Grandview-Woodland plan. This area has access to the city’s and the regions most significant transit hub, which provides access to the Skytrain (Expo, Millenium, and Evergreen lines), as well as the city’s most used bus routes, including the 99 B-Line. Additionally, the new Millennium Line Broadway extension, which will continue from VCC-Clark Station adding an additional 6 stations ending at Arbutus Street, will eventually replace the 99 B-Line bus service and further increase the degree of transit accessibility available at Commercial-Broadway station.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]
Excellent Location: Central East Broadway Location, situated within 3 blocks of both the VCC-Clark and Commercial-Broadway SkyTrain stations & walking distance to the vibrant Commercial Drive, comprised of 22 blocks with over 300 unique shops & services;
Significant Rental Income Upside: With the building currently achieving below-market rents, there is approximately 80% of rental income upside available throughout the building;
Recently Updated: The building has received some updates within the last few years including: newly painted building exterior & fence, newly painted deck balconies & railings, updated carpet & tile in common areas, new radiant hot water boiler, and approx. 15 suites have been improved with updated kitchens, bathroom fixtures, and laminate floors;
High Demand for Rental: McLean Manor Apartments is situated in a neighbourhood with a 0.5% vacancy rate, which allows the building to remain leased consistently and provides a steady income stream;
Mid to Long-term Redevelopment Potential: Situated on a large 16,077 Sq. Ft. corner site with rezoning potential for a high density development up to 10-storeys & 3.6 FSR in the long-term.
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Walkers Paradise
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Riders Paradise
[/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_1537814504328{background-color: #0f3b46 !important;border-radius: 25px !important;}"]94[/vc_cta][/vc_column_inner][vc_column_inner width="1/2"][vc_single_image image="1985" img_size="full" alignment="center"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_text_separator title="Property Photos" title_align="separator_align_left"][/vc_column][/vc_row][vc_row][vc_column][vc_gallery type="image_grid" images="1986,1987,1988,1989,1990" 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
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
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[vc_row][vc_column][vc_raw_js]JTNDc2NyaXB0JTNFd2luZG93LmxvY2F0aW9uLnJlcGxhY2UlMjglMjJodHRwcyUzQSUyRiUyRmNicmV2YW5jb3V2ZXIuY29tJTJGdmxhcCUyMiUyOSUzQiUzQyUyRnNjcmlwdCUzRSUwQQ==[/vc_raw_js][/vc_column][/vc_row][vc_row][vc_column width="1/3"][vc_text_separator title="Portfolio Details" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1616618157792{margin-bottom: 0px !important;}"]
# OF BUILDINGS
15 buildings
TOTAL SUITES
614
NEIGHBOURHOODS
West End
West Side
West Point Grey
CONSTRUCTION
9 x Concrete
6 x Wood-frame
SOLD PRICE
$292.5 M
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1603320563756{margin-bottom: 0px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #000000 !important;}" el_class="schedule_appointment"]
Contact Agent
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1603475310709{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="Portfolio Overview" title_align="separator_align_left"][vc_column_text]CBRE Limited, Real Estate Brokerage – National Apartment Group is pleased to introduce the historic opportunity to acquire a rare multi-residential portfolio of significant scale in Vancouver, British Columbia. The Portfolio totals 411 suites, comprising 10 properties, and situated in 3 geographic clusters on the west side of Vancouver. The Portfolio provides a balance of core location attributes, a secure investment profile, and critical mass that make for an extremely rare offering and the largest multi-family portfolio comprising predominantly concrete rental assets in recent years within the Vancouver market.[/vc_column_text][vc_text_separator title="Offering Video" title_align="separator_align_left"][vc_column_text][/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="4084,4085,4086,4087,4088,4089,4090,4091,4092,4093"][/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
National Apartment Group
CBRE Limited, Capital Markets
lance.coulson@cbre.com
T: 604.662.5141
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David Montressor
Sales Representative
Executive Vice President
National Apartment Group
CBRE Limited, Capital Markets
david.montressor@cbre.com
T: 416.815.2332
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David Ho
Personal Real Estate Corporation
Executive Vice President
National Apartment Group
International Markets Team
CBRE Limited, Capital Markets
david.ho@cbre.com
T: 604.662.5168
[/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 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="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1610989829550{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
1741 Kootenay Avenue, Prince Rupert, BC
PID
028-625-137
SITE SIZE
1.94 Acres
OCCUPANCY
100%
HYDRO/HOT WATER
Individual hot water tanks in each suite, paid for by the tenants
HEATING
Electric baseboard
PARKING
49 covered + additional surface stalls
STABILIZED NOI
$239,335
CAP RATE
6.25%
STATUS
Film Deal
TENURE
Title will be delivered free and clear of all financial encumbrances
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Request More Information
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1581627606734{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="Investment Highlights" title_align="separator_align_left"][vc_column_text]
Opportunity to acquire The Four Winds Apartments, a 100% leased positive cashflow producing multi-family rental apartment building with scale, centrally located in Prince Rupert, British Columbia;
Contemporary 48-suite rental apartment building situated on on nearly 2 acres, with large suites and an excellent suite mix comprised of 70% 2-bedrooms units with balconies and large in-suite storage;
Attractive 6.25% Cap Rate on the List Price with upside in a number of the rents upon turnover;
The building is fully occupied with a long-term onsite building manager;
The Four Winds Apartments is located in Prince Rupert, a port city on the North Coast of British Columbia with the deepest natural harbor in North America and offering the shortest shipping routes to Asia;
The Government of Canada has announced financial investments totaling more than $150 million through its National Trade Corridors Fund to support three critical infrastructure projects to facilitate further growth and trade development;
Title will be delivered free and clear of all financial encumbrances, allowing prospective purchasers to capitalize on the current historically low interest rate environment;
The offering provides investors with over a 12-14% return* on equity when factoring principal reduction, with further opportunity to increase cash flow in a city poised to benefit from Canada’s growing global trade. *Based on recent debt quote.
[/vc_column_text][vc_single_image image="3177" img_size="large"][/vc_column][/vc_row][vc_row][vc_column width="1/2"][vc_column_text]
Prince Rupert: Where Modern City Meets Coastal Living
[/vc_column_text][vc_column_text]Home to approximately 13,000 people, Prince Rupert is a beautiful and well-established coastal city in Northern BC. Framed and protected by coastal mountains and islands, Prince Rupert has the world’s second deepest natural ice-free harbour, with a modern cruise ship terminal and a new expanding container terminal that transports goods between Asia & the rest of North America.
The Four Winds Apartments is well located just minutes from the Downtown Core, which is home to major retailers including: Safeway, Save-on-foods, Walmart, and BC Liqour Store, as well as a number of local artisan shops, seafood restaurants, cafes, and pubs. The property is also located just 3 minutes away from the Via Rail Station, BC Ferry Station, and the Digby Island Airport Ferry.
Prince Rupert is accessible by daily flights from Vancouver, VIA Rail along their northern route from Jasper, BC Ferries from Port Hardy up the Inside Passage route, and by road from Smithers or Terrace, a route often cited as one of the most scenic drives in Canada.
Due to the Asia Pacific Gateway Initiative and highly efficient road and rail network in the North West Transportation Corridor, the Port City of Prince Rupert is positioned to link Asian economies to North America’s consumer heartland and is on the brink of vibrant economic growth.[/vc_column_text][/vc_column][vc_column width="1/2"][vc_single_image image="3180" img_size="large"][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_empty_space height="20px"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height="52px"][vc_text_separator title="Property Photos" title_align="separator_align_left"][vc_gallery type="image_grid" images="3179,3178" img_size="medium"][/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][/vc_column_text][/vc_column_inner][/vc_row_inner][/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="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 announce the firm deal on 33370 George Ferguson Way, Abbotsford, B.C:
33 Stratified Unit Building
34,096 SF Lot
Off market transaction
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height="42px"][vc_row_inner][vc_column_inner][vc_empty_space height="10px"][/vc_column_inner][/vc_row_inner][vc_empty_space height="52px"][vc_empty_space height="52px"][/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]
Kevin Murray
Senior Sales Associate
T +1 604 662 5171
kevin.murray4@cbre.com
[/vc_column_text][/vc_column_inner][vc_column_inner width="1/3"][vc_column_text]
GREG AMBROSE
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@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_1608164190299{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
1255 Denman St, Victoria, BC
PID
009-289-216
SUITE MIX
One-Bed 10
Two-Bed 2
Total = 12
SITE SIZE
9,900 SF*
*approx & subject to verification
PARKING
Surface Parking
CURRENT ZONING
R3-2
PRICE PER DOOR
$208,333
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_1602887641097{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 has been retained by the Owner on an exclusive basis to offer the 100% interest in the Denman Manor Apartments, a well-maintained, 12-suite rental apartment building centrally located in the highly desirable Fernwood Neighbourhood in Victoria, BC.
The Denman Manor Apartments is a low maintenance multifamily investment property well located in one of the strongest rental markets in Canada providing investors with the opportunity to improve rents and increase investment return.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]
Central Location: Located in Fernwood, tenants enjoy easy access to Downtown, the University of Victoria, public transit and being within walking distance to the unique shops and cozy eateries that Fernwood is known for.
Low Maintenance: The design of the Denman Manor makes it inherently low maintenance with no common lobby or hallways to maintain. The building has been owned by the same owner since 1974 and the long-term caretaker would consider continuing the management of the property for a new owner.
Proven Asset Class: The performance of multifamily assets during both the Global Financial Crisis and the more recent pandemic has demonstrated the resiliency of the asset class. Low vacancy rates, lack of rental housing and high cost of ownership support long-term income growth for multifamily assets such as the Denman Manor Apartments.
Rental Upside: With the majority of the suites generating below market rents, prospective investors will benefit from the opportunity to significantly improve rental revenue and yield by increasing rents to market rates at turnover.
Clear Title: The property will be delivered free of any financial encumbrances allowing prospective investors to take advantage of the incredibly attractive current interest rate environment (CMHC rates < 2%).
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_empty_space height="42px"][/vc_column_inner][/vc_row_inner][/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="4078" 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
Senior Sales Associate
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
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CIVIC ADDRESS
401 Fifth Street
New Westminster, BC
PID
013-454-099
SUITE MIX
Bachelor x 1
Bachelor + Den x 4
One-bed x 1
One bed + Den x 8
Total = 14
SITE SIZE
13,068 Sq. Ft.
*approx & subject to verification
CURRENT ZONING
RS-1 Single Detached Dwelling
STATUS
FIRM DEAL
TENURE
Title will be delivered free and clear of all financial encumbrances
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Schedule A Phone Consultation
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The National Apartment Group – BC is pleased to present the opportunity to acquire the St. James Apartments, a character rich 14-suite Rental Apartment building built in 1930 and situated on a large 13,068 SF corner lot in the heart of the Queen's Park neighbourhood in New Westminster, BC.
The video tour below highlights some of the character attributes retained throughout the building, the larger than average suite layouts, and the nearby amenities just steps from the property in addition to providing an opportunity for prospective investors to safely view the property virtually.
The owner is in the unique position to deliver 5 suites vacant, providing convenient and safe access to tour the building and allowing investors to immediately start a renovation program and begin updating suites prior to releasing them at market rents. Though the be building has benefited from recent capital upgrades, it ultimately represents a repositioning opportunity for investors.
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Some examples of property renovations that could be conducted are highlighted in the images below:
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Current Kitchen
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Virtually Renovated Kitchen
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Current Bathroom
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Virtually Renovated Bathroom
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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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Kevin Murray
Senior Sales Associate
T +1 604 662 5171
kevin.murray4@cbre.com
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CIVIC ADDRESS
1445 West 10th Avenue, Vancouver, BC
SITE SIZE
015-019-721
SUITE MIX
11 x One-Bedroom Suites
SITE SIZE
6,250 SF (50' x 125')
CURRENT ZONING
RM3
OCP DESIGNATION
1.45 FSR
CURRENT NOI
$161,098
STATUS
SOLD
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576537293095{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_1588800492027{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 exclusive opportunity to acquire The Henrietta Apartments, a well-maintained 11-suite income producing rental apartment building prominently located in the prestigious Fairview neighbourhood in Vancouver, long regarded as one of the strongest rental markets in Canada!
The offering provides a competitive inital 2.75% cap rate on list price and additionally provides a future value-add opportunity to increase rental income upon turnover, modernization & re-lease of units at market rents. The property is also located within the Broadway Corridor Plan Study area, creating potential redevelopment opportunities in the future, and will be
just around the corner from the future South Granville Millennium Line Broadway extension station, which is expected to be completed in 2025.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]
Exceptional location: Immediate access to transit & a variety of highly sought-after amenities, steps from future SkyTrain station, and only a 5 minute drive from Downtown Vancouver;
Rental Income Upside: With many of the suites at below market rents, there is a significant income upside opportunity to modernize the suites upon turnover and re-lease at market rents;
Strong Market Fundamentals: Fairview boasts one of the lowest vacancy rates in Metro Vancouver at 0.5% (CMHC). The lack of rental housing supply, increasing rental rates & home prices in Vancouver combined with historically low vacancy rates support long-term income growth for the Subject Property;
Possible Rezoning for Future Redevelopment: The Property is situated in the Broadway Study Plan (estimated to be completed in 2020 and may be considered for densification/rezoning due to its proximity to the Millennium Line Broadway Extension;
Secure Investment: Historically high occupancy, tightening rental market and consistent appreciation in multi-family property values make this an extremely appealing investment property.
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Location Highlights
1445 West 10th Avenue is located in the heart of the South Granville area in the Fairview neighbourhood, just off of Granville Street and one block South of West Broadway. The area boasts quick and easy access to some the best amenities, including grocery, restaurants, cafes, and entertainment all within walking distance of the property, as well as quick access to the 99 B-Line Bus which runs all the way down West Broadway from the University of British Columbia to Commercial Drive, and the 010 Downtown Bus just around the corner from The Subject Property. The Henrietta Apartments will also be less than 200 meters from the future South Granville Subway Station, providing greater transit connectivity throughout Metro Vancouver.
Broadway Corridor Plan Study Area
The Subject Property has been identified as part of the Broadway Corridor Plan (BCP) Study Area, which has a vision for increased densification, particularly rental and affordable housing, near transit connections to better connect residents to employment sites. More importantly, the BCP intends to provide developers and property owners with guidance and clarification on what forms of development will be permitted for the area upon completion of the review, which is estimated for the end of 2020.[/vc_column_text][/vc_column][vc_column width="1/2"][vc_empty_space height="62px"][vc_single_image image="3198" img_size="large"][/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="3191,3201,3202,3203,3204,3205,3206" 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
Senior Sales Associate
T +1 604 662 5178
greg.ambrose@cbre.com
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CIVIC ADDRESS
50 Fell Avenue, North Vancouver, BC
PID
024-721-778
YEAR BUILT
2001
SITE SIZE
1.27 Acres | 55,647 SF
*approx & subject to verification
NET RENTABLE AREA
31,529 SF
LOADING
5 dock loading doors
3 grade loading doors
ZONING
CD-360
PARKING
42 Surface Stalls
STABILIZED NOI
$565,197
ASSESSED VALUE
$13,876,000
LIST PRICE
FIRM DEAL
[/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_1590519475511{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]CBRE’s North Shore Specialists and Investment Properties Group have teamed together to present the opportunity to acquire 50 Fell Avenue, a professionally managed state-of-the-art A-Class flex industrial/office building located within the “Harbourside Business Park” and situated at the foot of the North Shore Auto Mall in the City of North Vancouver.
The property is improved with 31,529 sq. ft. of high-quality flex industrial and office space, approximately 21,835 sq. ft. of which is warehouse industrial space on the main floor featuring 24’ ceiling heights and minimal columns. The second floor features over 9,694 sq. ft. of modern office space’s with large boardrooms & kitchenettes.
The property is further improved with both dock loading and grade loading doors, an accessibility elevator providing access to the 2nd floor, over 6,000 sq. ft. of yard space on the North side of the property, and 42 surface parking stalls.
The Property is well positioned to take advantage of North Vancouver’s highly constrained industrial and office markets, with vacancy rates as low as 0.8% (2nd lowest vacancy rate in Metro Vancouver) and 3.2% respectively. Upwards pressure on rental rates has been increasing throughout 2019, and vacancy rates are expected to remain compressed in the coming year.[/vc_column_text][vc_text_separator title="Investment Highlights" title_align="separator_align_left"][vc_column_text]50 Fell Avenue is ideally situated across the street from the North Shore Auto Mall in the Harbourside Business Park in the City of North Vancouver; a highly sought-after location for businesses given its waterfront location. The property is close to a variety of retail amenities & services along Marine Drive, including Capilano Mall; North Vancouver’s 2nd largest shopping center, and is within walking distance to Lonsdale Quay Market & SeaBus via the Spirit Trail or by transit, with Immediate access to public transportation directly outside of the property.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_empty_space height="42px"][/vc_column_inner][/vc_row_inner][vc_text_separator title="LOCATION MAP (CLICK TO ENLARGE)"][vc_single_image image="3441" img_size="full" alignment="center" onclick="img_link_large"][/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="3433,3437,3435,3436,3434,3439,3440" 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
CBRE Limited, Capital Markets
T +1 604 662 5141
lance.coulson@cbre.com
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LAWSON CHU
Associate Vice President
CBRE Limited, Capital Markets
T +1 604 662 5116
lawson.chu@cbre.com
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YASHAR KHALIGHI
Personal Real Estate Corporation
Associate Vice President
CBRE Limited, Capital Markets
T +1 604 662 5193
yashar.khalighi@cbre.com
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