Overview
1794 Frances is an 8-suite character apartment building in East Vancouver, ideally situated one block off the vibrant Commercial Drive corridor. Built in 1910 on a 5,372 SF lot, the property offers a balanced suite mix including 2 bachelors, 4 one-bedrooms and 2 two-bedrooms.
The building features charming details throughout, including restored hardwood floors, character banisters and crown molding.
Six of the eight suites have been recently renovated, with modern appliances, dishwashers, new countertops, cabinets and bathrooms. All tenants pay their own electric baseboard heating, while 4 of the 8 suites pay for hot water with their own in-suite hot water tanks. Common area facilities include a large basement with bike storage, and one shared washer/dryer set.
The extra-large above-grade basement provides an opportunity to add multiple suites and/or storage facilities, while a large side yard area offers potential for infill development.
The property is zoned RM-4 and designated for 6-storey apartment at a density of up to 2.40 FSR within the Grandview Woodland Community Plan.
Location
1794 Frances is located in East Vancouver’s Grandview-Woodland, one of the most culturally diverse neighbourhoods in the region. Situated in a pedestrian friendly area just one block east of Commercial Drive, the property benefits from a multitude of everyday amenities, schools and parks.
The Commercial Drive corridor has a distinct European flavour that you can’t find anywhere else in the city. Sidewalk cafes, small boutiques, bakery and pastry shops, all mingle with the regular types of businesses such as banks, grocery stores, and hardware stores. The area is well serviced by public transit with rapid connections to/from Downtown Vancouver. With an increasing population base in the neighborhood, the area has grown to be a vibrant and desirable district.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
Bachelor | No. units2 | Average size350 | Average rent $1,315 |
1 bedroom | No. units4 | Average size500 | Average rent $1,784 |
2 bedroom | No. units2 | Average size650 | Average rent $2,535 |
Financials
Financing | Treat as clear title | |
---|---|---|
Assessment 2024 | Land Building Total | Land$2,335,000 Building$771,000 Total$3,106,000 |
Taxes 2024 | $9,411 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$178,058 Vacancy(890) Effective gross$177,168 Operating expenses(40,752) Net operating income$136,416 |
Notes | For more information, please contact listing agent. |
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
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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