[vc_row][vc_column width="1/3"][vc_text_separator title="" el_id="offering"][vc_column_text el_id="property_grid" css=".vc_custom_1685136407964{margin-bottom: 0px !important;}"]
MUNICIPAL ADDRESS
201 - 288 Balmoral Place, Port Moody, BC
SITE AREA
4.88 Acres
EXISTING IMPROVEMENTS
88 Stratified Townhouse Units
CURRENT ZONING
RM1
OCP DESIGNATION
Multi-Family Residential & High Rise Residential
PROJECTED FSR
3.40 Blended (conceptual)
STATUS
Consulting
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1523989131941{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"]
Schedule Appointment
[/vc_column_text][vc_column_text css_animation="fadeInUp" css=".vc_custom_1533940611257{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]On behalf of the owners of the Strata Corporation NWS18O8 (collectively the “Vendor”), CBRE Limited (CBRE) (the “Agent”) is pleased to offer for sale 201-288 Balmoral Place, Port Moody, BC (the “Property”).
Covering an expansive 4.88 acre site, existing improvements include 88 stratified townhouse units. The site is exceptionally located, across from Eagle Ridge Hospital and minutes from the bustling Suter Brook and Newport Villages in Port Moody. The Property is considered to be a trophy redevelopment opportunity for a Purchaser to construct a high-end, multi-phase, master planned community comprised of multiple building forms.
The offering provides an exceptional opportunity to acquire a large scale trophy redevelopment site, currently improved with a townhouse complex comprising 88 townhouse units.
The property sits on an expansive 4.88 acre (212,573 SF) irregular shaped site located on the corner of Guildford Way and Balmoral Place in the City of Port Moody. The property features lush, green-space on a northwest sloping lot providing privacy from the busy Guildford Way. Balmoral Place benefits from unparalleled exposure to both vehicle and pedestrian traffic, with approximately 655 feet of frontage along Balmoral Place to the East and approximately 565 feet of frontage along Guildford Drive to the North.
The redevelopment of the Subject Property into a multi-phase, master planned community would enhance and significantly contribute to the current limited housing options in Metro Vancouver.[/vc_column_text][vc_text_separator title="Location" title_align="separator_align_left"][vc_column_text]Balmoral Place is located on the Southeast corner of Guildford Way and Balmoral Place, just minutes from Newport Village, Suter Brook Village and Eagle Ridge Hospital. Both Newport and Suter Brook Villages are examples of recently completed master planned, mixed-use development communities.
Suter Brook and Newport Villages feature numerous amenities including: Thrifty Foods, IGA, Kin’s Market, Pharmasave, BC Liquor Store, Vancity, TD, RBC, Starbucks, JJ Bean, Cobs Bread, Browns Social House and the nearby Port Moody Rec Centre Complex and Public Library.
The City of Port Moody has become a thriving, rapidly growing community nestled between Burnaby and Coquitlam with a multitude of convenient transit options servicing most areas throughout the Tri-Cities and Metro Vancouver via the new SkyTrain Evergreen Line and the West Coast Express.[/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 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="1/2"][/vc_column_inner][vc_column_inner width="1/2"][vc_gallery type="image_grid" images="1783,1784,1787"][/vc_column_inner][/vc_row_inner][/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="1/2"][vc_column_text]
LANCE COULSON
Personal Real Estate Corporation
Executive Vice President
Strata Wind-Up & Property Sales
T +1 604 662 5141
lance.coulson@cbre.com
[/vc_column_text][/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_1622582365065{margin-bottom: 0px !important;}"]
CIVIC ADDRESS
2916 Lonsdsale Ave
North Vancouver, BC
SITE SIZE
15,000 SF (approx.)
RENTABLE AREA
7,350 SF (approx.)
CURRENT ZONING
General Commercial Zone 2 - C2
PARKING
Approx. 36 stalls
OCP DESIGNATION
Commercial Residential Mixed-use Level 1
OCP DENSITY
Up to 1.75 FSR
TENANT OCCUPANCY
100% - 2 tenants
Daycare Center & Taekwondo Studio
STATUS
SOLD
[/vc_column_text][vc_column_text css_animation="fadeInLeft" css=".vc_custom_1576884122022{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_1597081792820{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]2916 Lonsdale Avenue is a ± 7,350 SF retail plaza centrally located on Lonsdale Avenue, one of North Vancouver’s most prominent retail commercial corridors. The Subject Property is also located within a very affluent residential neighbourhood, is steps to public transportation, and is only 3 blocks north of the entrance to Highway 1, providing excellent connectivity to Downtown Vancouver and nearby municipalities.
Highly visible and easily accessible ± 7,350 SF retail plaza, strategically positioned on a large ±15,000 SF corner site with approximately 120’ feet of frontage on Lonsdale Avenue;
Currently 100% leased to 2 tenants: an established Taekwondo studio who’s historically been a long-term tenant at this property and throughout North Vancouver, and a Daycare Center, an extremely sought-after service in North Vancouver, which will be owned by an experienced operator who’s well known and highly regarded in the child care community;
Both tenants are signed to brand new long-term net leases with rental escalations throughout the term and comprise of early termination rights in favour the landlord;
Lonsdale Retail Plaza is well located in Upper Lonsdale with a bus stop directly across the street, providing quick and easy transportation to and from Lonsdale Quay Market & the Seabus, which quickly connects to Waterfront Station in Downtown Vancouver in just 12 minutes;
The property provides surface level parking and is built over top of a below-grade parking lot, providing approximately 36 parking spots;
The property is identified within the District of North Vancouver’s OCP, providing basis for future re-development;
The property is held in a bare trust and offers potential PPT Savings.
This offering provides an exceptional opportunity for excellent holding income with an inherent underlying opportunity for future re-development in 8-10 years.[/vc_column_text][vc_text_separator title="Future Redevelopment Potential" title_align="separator_align_left"][vc_column_text]The Subject Property is designated as Commercial Residential Mixed Use Level 1 (CRMU1). Areas designated for CRMU1 are intended predominantly for general commercial purposes, such as retail, service and offices throughout the District. Residential uses above commercial uses at street level are generally encouraged. Development in this designation allow for a 4-storey mixed-use development up to approx. 1.75 FSR. The property’s location will also provide exceptional views of Downtown Vancouver from the upper floors.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_video link="https://www.youtube.com/watch?v=f_YKvKJ0MZ4"][vc_row_inner][vc_column_inner][vc_empty_space height="42px"][/vc_column_inner][/vc_row_inner][vc_single_image image="3051" 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="4013,3033,3048,3049" 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]
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]
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_row_inner][vc_row_inner][vc_column_inner][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][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
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.
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