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For Sale

Landsdowne House

1537 Burnaby Street, Vancouver

Apartment Building
24 suites close to English Bay

$10,800,000

17 vacant suites ready for renovation

Overview

With 17 of the 24 units vacant, this represents a great opportunity for an investor to complete a renovation program.

Landsdowne House is a 3-storey (plus penthouse) wood-frame rental apartment building featuring 24 suites. Constructed in 1956, the building is improved on a 66’ × 131’ (8,646 SF) RM-5A zoned lot. Located in the heart of Vancouver’s West End only 3 blocks to English Bay, the property features a penthouse suite, secure parking, laundry facilities and storage lockers. 

Summary

Price10,800,000
Units24
Storeys3
Price/Unit$450,000
Year Built1956
Lot Size66’ × 131’ (8,646 SF)
ZoningRM-5A Multiple Family Dwelling
PID015-746-933

Suite Mix

 No. Units
BachelorNo. Units1
1 bedroomNo. Units22
2 bedroomNo. Units1

Highlights

  • Wood-frame low-rise 24-suite apartment building featuring a penthouse suite
  • $115,000 has been spent on upgrades including exterior paint, new roof, new windows, landscaping and demolition work of the 17 vacated suites
  • Secure parking for 10 cars
  • Popular West End location by English Bay Beach close to transit
  • Gas-fired hot water radiant heat
  • Bike storage in secure parking area
  • 2 washer/2 dryers (leased)
  • Stage 1 Environmental Report available
  • Bachelor suite unauthorized
  • Property held in a bare trust

Location

The West End — especially English Bay — is considered one of Vancouver’s most desirable rental markets and known as an established and dynamic neighbourhood located on the periphery of the downtown core.  

Landsdowne House is extraordinarily well located mid-block on Burnaby Street between Cardero and Nicola Streets. Davie Street, only one block away, is a popular pedestrian shopping area considered “the main drag” of the neighbourhood. With a wide variety of shops, hotels, nightlife and bars, restaurants, and grocery stores, Davie Street offers an abundance of things to do on any given day. Another popular thoroughfare known as Denman Street is only 3 blocks away and stretches across the West End from English Bay to Coal Harbour. Robson Street, Vancouver’s pre-eminent high-end shopping destination, is only a 10-minute walk. The property is also located within walking distance of numerous transit options providing connections to all areas of Metro Vancouver. Finally, Landsdowne House is situated only 3 blocks to the beaches of the English Bay waterfront and 5 blocks to the lush greenery of the world famous thousand-acre Stanley Park.

Financials

FinancingTreat as clear title.
Assessment 2018
Land
Building
Total
Land$5,836,000
Building$3,714,000
Total$9,550,000
Taxes 2018
$21,232

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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