[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
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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][/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="1/3"][vc_text_separator title="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1588874861269{margin-bottom: 0px !important;}"]
ADDRESSES
1629 Haro St, Vancouver, BC
720 Queens Ave,
New Westminster, BC
CONSTRUCTION TYPE
Haro St - Concrete
Queens Ave - Woodframe
# OF UNITS
153 Combined
SITE SIZE
Haro St - 8,646 SF
Queens Ave - 75,315 SF
SALE DATE
Nov. 2019
SALE PRICE
$43,500,000 (combined)
PURCHASER
Institutional Investor
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]The Metro Vancouver Apartment Portfolio represents the significant sale of two compelling and sizable rental apartment assets comprising a total of 153 rental units in Vancouver and New Westminster;
CBRE National Apartment Group - BC was mandated by the Vendor to seek a suitable and credible purchaser for two of their assets; one of which is a trophy concrete high-rise apartment in the West End of Vancouver, and the other being a sizable asset of scale on a substantial land footprint minutes away from the New Westminster waterfront;
Our Apartment sales team consulted the Vendor on their overall property portfolio and provided in-depth evaluations of property values on both existing improvements basis and underlying land value;
Following the comprehensive underwriting of the two assets, our team sourced the buyer and assisted the Vendor throughout the offer, negotiations, and due diligence process;
The end-result is that our Apartment Sales team successfully brokered and advised on the successful sale of the only rental concrete high-rise in Vancouver and the largest single-building rental apartment in New Westminster, to trade thus far in 2019, respectively.[/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="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1588875042809{margin-bottom: 0px !important;}"]
ADDRESS
13555 96 Avenue, Surrey, BC
YEAR BUILT
2018
# OF UNITS
146
SITE SIZE
49,901 SF
SALE DATE
Sept 2019
SALE PRICE
$56,000,000
DEAL TYPE
Sale upon partial stabilization
PURCHASER
Institutional Investor
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]Brand new 6-storey wood-frame, 146-unit purpose-built rental apartment building located on 96 Avenue just west of King George Blvd.
This condo-spec luxury apartment building offers an abundance of amenities including: 3 levels of secured underground parking, out-of-suite storage, bicycle storage, fully equipped fitness centre, rooftop terrace, entertainment lounge and a dog-run area.
The Fusion is situated in the heart of Surrey’s thriving City Centre with close access to the King George SkyTrain station, Surrey Memorial Hospital, and Fraser Highway.
CBRE National Apartment Group – BC provided consultation services to the Vendor and advised on potentially achievable sale values for the property in the marketplace, which ultimately resulted in the successful sale of the building to a national institutional investor.”[/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="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1588875681584{margin-bottom: 0px !important;}"]
ADDRES
5393 201 Street, Langley, BC
YEAR BUILT
2019
# OF UNITS
98
SITE SIZE
53,205 SF
SALE DATE
June 2019
SALE PRICE
$39,000,000
DEAL TYPE
Partial forward sale
PURCHASER
Institutional Investor
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]Brand new 4-storey wood-frame, 98-suite purpose-built rental apartment building located on 201 Street in the heart of Langley, BC.
The Point is a luxury rental apartment building consisting of desirable amenities such as advanced security system, secured bike storage, large storage lockers, fully equipped fitness centre, entertainment room and theatre room.”
CBRE National Apartment Group – BC successfully brokered the partial “forward sale” of The Point, in an off-market transaction between a local developer and an institutional buyer
Our team was engaged throughout the transaction process, from providing guidance on achievable rents/stabilized income to the thorough due diligence process, and we were able to assist with deriving a sale value and projected cap rate that satisfied both the Vendor and the end-buyer
The sale of The Point Apartments was featured in the News; click the links below to read the articles:
Vancouver Sun | Western Investor
[/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="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1588876227786{margin-bottom: 0px !important;}"]
ADDRESS
5363 201 Street, Langley, BC
YEAR BUILT
2017
# OF UNITS
90
SITE SIZE
47,916 SF
SALE DATE
Aug. 2018
SALE PRICE
$33,000,000
DEAL TYPE
Sale upon building stabilization
PURCHASER
Institutional Investor
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]Newly-constructed 5-storey wood-frame, 90-Suite purpose-built rental apartment building off 201 Street and 53A Avenue in Langley, BC.
Abundance of appealing amenities such as secured underground parking, outdoor playground area, bike storage, meeting room, fitness centre, entertainment room and theatre room.
The Meridian Apartments was completed, fully leased, and had operated for a full year at the time of the sale.
CBRE National Apartment Group – BC sourced the end-buyer, assisted both the Vendor and buyer throughout the comprehensive valuation, negotiation and due diligence process, and ultimately brokered the sale of the property between a local developer and one of Canada’s largest residential landlords[/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="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587080559560{margin-bottom: 0px !important;}"]
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
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]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.[/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="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587167963559{margin-bottom: 0px !important;}"]
# OF BUILDINGS
4 Rental Apartment Buildings
# OF SUITES
169 Total
SALE DATE
Jan 2016
SALE PRICE
$29,000,000
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]The Portfolio consisted of 4 wood-frame buildings with combined 169 units, strategically located in Victorias prestigious Fairfield and Fernwood neighbourhoods and all within a 5 minute drive from each other, providing both management and maintenance efficiencies. All buildings were well maintained and managed, with significant capital upgrades having been completed in recent years prior to the sale.
The Team lead by Lance Coulson, Chris Rust, and Ross Marshall represented both the Vendor and the Purchaser in the successful transaction. Our teams extensive experience and knowledge of the Victoria market combined with our unique marketing campaign, which properly exposed the property to prospective purchasers in both Victoria and Greater Vancouver, allowed us to attract the ideal buyer.[/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="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587166204336{margin-bottom: 0px !important;}"]
# OF BUILDINGS
22 Rental Apartment Buildings
# OF SUITES
919 Total
SALE DATE
Sept 2015
SALE PRICE
$170,000,000
BUYER
CAPREIT
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]The Western Investment Properties (WIP) Portfolio comprised of 19 properties improved with 22 rental apartment buildings with a combined total of 919 apartment units. The properties are all centrally located in 7 proven Greater Vancouver rental markets with strong population growth and low vacancy rents, providing the purchaser a secure income stream with unlimited growth potential. Each of the buildings had benefited from significant capital improvements and renovations that turned rental units into homes, and allowed each to attract and retain quality tenants.
Lance Coulson of the National Apartment Group - BC, along with fellow brokers Tony Quattrin and Jim Szazbo represented the seller, a private equity firm, in a bid process that saw significant interested from private and institutional investors. Ultimately, the portfolio was acquired by Canadian Apartment Properties REIT for $170M in 2015.
The sale of this premier portfolio represented BCs largest ever one-time multifamily portfolio trade.
This sale was featured in BISNOW - Click here to read the article.[/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="SUMMARY" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1587168865744{margin-bottom: 0px !important;}"]
# OF BUILDINGS
13 Buildings
# OF RENTAL SUITES
169 Total
SF COMMERCIAL SPACE
45,617 SQ.FT. Retail/Commercial Podium
SALE DATE
June 2014
SALE PRICE
$140,000,000
[/vc_column_text][/vc_column][vc_column width="2/3" el_class="property_content"][vc_text_separator title="TRANSACTION DETAILS" title_align="separator_align_left"][vc_column_text]The Boardwalk REIT Apartment Portfolio comprised 2 concrete high-rise towers located in Burnaby, 1 concrete high-rise tower in addition to 45,617 Sq. Ft. of commercial space located in Surrey Village, plus 5 low-rise and 4 townhouse buildings located in Greater Victoria for a total of 633 units.
The sale of the Boardwalk REIT Apartment Portfolio was the only portfolio of this caliber available for sale in BC at the time and is the largest multi-family portfolio sale to transact in British Columbia in 2014.
The CBRE National Apartment Group - Vancouver and the CBRE National Investment Team - Vancouver executed a unique three phased marketing plan that exposed the subject properties to prospective purchasers across North America and Internationally, resulting in significant interest and the successful sale of the Portfolio.[/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="Summary" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1616003363262{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
1585 Oak Bay Avenue, Victoria, BC
PARCEL IDENTIFIER
003-479-471
SITE SIZE
10,266 SF*
*approximate & subject to verification
SUITE MIX
Bachelor x 4
1-Bed x 8
2-bed x 1
Total = 13
CURRENT ZONING
R3-A2
LAND USE DESIGNATION
Large Urban Village
POTENTIAL DENSITY
2.50 FSR up to 6 storeys
STATUS
SOLD
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1539734131148{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"]
Request More Information
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1564424721379{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 Oak Heights Apartments, a well maintained, 13-suite rental apartment building centrally located in the highly desirable Stadacona Village area of Rockland in Victoria, BC.
Investment Highlights
Central Location: easy access to Downtown, the University of Victoria, and public transportation & numerous amenities within walking distance.
Development Potential: Designated as Large Urban Village under the Victoria OCP, allowing potential future redevelopment up to 6-storeys including row homes, apartments, freestanding commercial & mixed-use buildings
Well Maintained: The property has been well maintained by the current long term owner who has completed suite updates, addressed capital expenditure items, and installed maintenance free landscaping.
Rental Upside: Suites generating below market rents offer prospective investors the opportunity to significantly improve rental revenue and yield by increasing rents to market rates at turnover.
[/vc_column_text][vc_text_separator title="Location Highlights" title_align="separator_align_left"][vc_column_text]The Oak Heights Apartments is centrally located in the highly desirable Rockland neighbourhood of Victoria, BC, at the corner of Oak Bay Avenue and Fort Street. In addition to excellent public transportation along Oak Bay Avenue, with a main bus line to Downtown Victoria directly across the street, tenants enjoy quick and easy access to a significant cross section of local shops, services, restaurants, and parks.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][/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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