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Kerrisdale City Block

6300 Block of West Boulevard, Vancouver

Development Site
Site size 31,332 sq. ft.

SOLD $26,300,000

5 rental apartment buildings

Overview

Rare high-exposure Westside mixed-use redevelopment site with holding income!  The subject property encompasses an entire city block along the 6300 block of West Boulevard between W. 47th and W. 48th Avenues in the heart of Vancouver’s affluent Kerrisdale neighbourhood.  The site is comprised of three separate lots and improved with 5 multi-family rental buildings totalling 44 units.  Zoned C-2, the total site size is 31,332 sq. ft. with a corresponding development potential of 78,330 sq. ft. (2.5 FSR).  For a brochure, click here.

Highlights

  • Rare high-exposure Westside C-2 zoned redevelopment site with holding income
  • Entire city block made of 3 contiguous lots totalling 31,332 sq. ft. or 78,330 sq. ft. buildable
  • Consists of 5 multi-family rental buildings totalling 44 suites
  • Existing C-2 zoning allows for a mixed-use multi-family and commercial development of up to 2.5 times the site area
  • The maximum residential FSR is 2.15; to maximize the FSR to 2.5, a commercial component of 0.35 FSR is required
  • No requirement for rental replacement
  • Annual holding income of approximately $600k gross 
  • Clean Stage 1 Environmental
  • For a brochure, click here.

Location

Kerrisdale, located in the heart of Vancouver’s affluent Westside is one of Canada’s most established and wealthy communities.

The subject property encompasses the entire city block between West 47th and West 48th along West Boulevard in Vancouver’s prime Kerrisdale neighbourhood.  Only six blocks to West 41st Avenue, considered one of the best upscale high-end fashion and retail shopping districts in the City. Walking distance to Point Grey High School, Maple Grove Park, seniors centre, bus transportation, restaurants, a branch of the Vancouver Public Library, West Main Health Unit and Kerrisdale Community Centre.  

Rental Buildings

  • 6347 W. Boulevard: 22 units: 12-1Br; 10-2Br
  • 2109 W. 48th Ave: 11 units: 1-1Br; 10-2Br
  • 2108 W. 47th Ave: 11 units: 1-1Br; 10-2Br

    Total of 44 suites with an approximate yearly gross income of $520,000.

Summary

Price$28,000,000
Lot SizeApprox. 260' x 120.5' (31,332 sq. ft.)
ZoningC-2 Commercial District
Floor Space Ratio2.5
Development Potential78,330 sq. ft.
Price/SF Buildable$357
PID010-396-446; 010-396-489; 010-396-390
Sale Price$26,300,000
Sale Date02/04/2015

Suite Mix

 No. Units
One BedroomNo. Units14
Two BedroomNo. Units30

Financials

 
Assessment 2014
Land
Building
Total
Land$15,782,000
Building$85,500
Total$15,867,500
Taxes 2014
$56,028.72
Income and Expenses
Gross Income
Gross Income$600,000

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

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