Overview
Gow Block is a beautifully restored mixed-use heritage building in the Cedar Cottage neighbourhood of Vancouver. Improved on 4,219 SF corner lot, the property features four residential suites on the second level and two ground floor commercial units.
The two-storey Edwardian style Heritage B designated structure was originally built in 1910 and underwent a complete renovation in 2010. Restoration of the building included a rehabilitation of the foundation, updated electrical and plumbing, new exterior cladding and modernized building systems including sprinklers, hard wired smoke detectors and a monitored alarm. The building features double-paned windows, separately metered electric heating along with beautifully restored heritage charm including penny tiled bathrooms and clawfoot tubs.
The balanced residential unit mix offers 1 one-bedroom, 1 one-bedroom and den and 2 two-bedrooms. Each unit has a separate hot water tank, in-suite laundry and dishwasher. Tenants have access to a large patio and shared bike storage room at the rear of the building.
Location
Gow Block is located at the northwest corner of Commercial Street and East 20th Avenue in Vancouver’s Cedar Cottage. This quiet mixed-use neighbourhood is lined with independent cafes, salons and local shops and art galleries. The property is just minutes from Trout Lake Park / Community Centre and within a 10-minute walk of Gladstone Secondary, Lord Selkirk and Tyee Elementary.
The property sits in a tranquil pocket of East Vancouver, with easy access to transit and major transportation corridors. Both Nanaimo and Commercial-Broadway SkyTrain stations are within a 15-minute walk, while arterial routes such as Kingsway, East Broadway and Commercial Drive / Victoria Street provide convenient vehicular access across the city.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
1 bedroom | No. units1 | Average size 750 SF | Average rent$2,001 |
1 bedroom + den | No. units1 | Average size 750 SF | Average rent$2,639 |
2 bedroom | No. units2 | Average size 750 SF | Average rent$1,876 |
CRUs | No. units2 | Average size1,350 SF |
Financials
Financing | Treat as clear title | |
---|---|---|
Assessment 2024 | Land Building Total | Land$2,656,000 Building$1,253,000 Total$3,909,000 |
Taxes 2023 | $23,262 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income $232,041 Vacancy(5,801) Effective gross$226,240 Operating expenses(50,682) Net operating income$175,558 |
Notes | The average suite size is estimated by the owner. Please click here for the rent roll & expenses. |
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Ian Brackett
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
Mortgage calculator
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Ian Brackett
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3