| CIVIC ADDRESS | 103 N Templeton Drive & 2185 Oxford Street, Vancouver, BC |
| SITE SIZE | 12,078 SF (combined) |
| SUITE MIX | 103 N Templeton 2-bed 5 (total) 2185 Oxford Studio 1 1-bed 7 Total 8 |
| CURRENT ZONING | RM3-A |
| OCP DESIGNATION | Cedar Cove Residential Core Land Use |
| CURRENT NOI | 103 N Templeton: $154,426 2185 Oxford: $128,980 |
| CAP RATE | 3.7% |
| LIST PRICE | $7,590,000 (Combined) |
Ad For
Templeton & Oxford | Lance Coulson PREC
Summary
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The Opportunity
The CBRE National Apartment Group – BC is pleased to present the opportunity to acquire two recently renovated rental buildings located adjacent to one another at 103 N. Templeton Drive and 2185 Oxford Street in the heart of East Vancouver. Both buildings have undergone extensive renovations including: brand new roofs & flashing systems, plumbing upgrades, improved landscaping & exterior upgrades, and condo-quality suite improvements which include stainless steel appliances.
The offering represents an opportunity to acquire an excellent cash-flow producing properties with an appealing initial cap rate, minimal deferred maintenance, and future redevelopment potential under the Grandview-Woodland Community Plan.
The two buildings are situated on a 12,078 sq.ft. corner property at Oxford Street and N. Templeton Drive in the Cedar Cove sub-neighbourhood in Grandview Woodland’s Official Community Plan (OCP), which allows for redevelopment of up to 6-storeys with a maximum density of 2.4 FSR.
The Properties are being sold as a portfolio, however the vendor will consider offers on individual properties.
103 North Templeton Drive
- Contemporary 5-suite rental townhouse building comprised of large 2-storey plus basement 2-bedroom suites with individual entrance ways and full size in-suite laundry;
These large townhouses have fully renovated bathrooms and kitchens, a rare and unique rental property for tenants requiring larger units;
Extremely efficient with little to no common area and individual gas and hydro meters for each unit; - In 2018, the building received a number of capital improvements, including plumbing upgrades, extensive kitchen renovations, new flooring, and new electrical breaker panels to name a few. Please download the brochure to review the full list of updates.
2185 Oxford Street
- A boutique 2-storey, 8-suite rental apartment building comprised mainly of one-bed corner suites;
- An efficient building with tenants paying for their own hydro and hot water, including efficient domestic hot water tanks in each suite;
- Building includes common Laundry room facilities, bike storage and 5 surface-level parking spots at the rear of the building;
- In 2018, the building received a number of capital improvements which include full kitchen and bathroom renovations, brand new electrical, full re-pipe of plumbing, and extensive exterior upgrades to name a few. Please download the brochure to review the full list of updates.
The Subject Properties are well located in East Vancouver's trendy Hastings-Sunrise Neighbourhood, just minutes from the eclectic area known as "Port Town", offering some of the best shops, restaurants, cafes, and craft breweries in Vancouver.
The Subject Properties are situated just minutes from Downtown Vancouver, East Hastings Street and Highway 1, providing convenient access throughout Vancouver and neighboring municipalities.
With one of the lowest vacancy rates in Metro Vancouver at 0.6% (CMHC 2018), coupled with historically high occupancy & consistent appreciation in multi-family property values, The Subject Properties offer prospective purchasers with a secure long-term investment opportunity.
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