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Granville Towers

8770 Granville Street, Vancouver

$13,900,000

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Price $13,900,000

Property type Apartment building

Units 48

Storeys 4

Year built 1962

Lot size 26,692 SF (250’ x 106.8’)

Zoning RM-3A

Price per unit $289,583

Cap rate 3.1%

Gross income multiplier 19.9

Parking 14 covered+ 22 surface stalls (36 total)

Development potential Up to 6 storeys and 2.5 FSR under Marpole Community Plan

PID 014-347-725, 014-347-776, 014-347-911, 014-347-962, 014-348-004

Legal description Lots 12, 14, 15 & 16, except the west 7 feet now road, and Lot 13, except the west 17 feet now road, Block 12 District Lot 318 Plan 1749

Overview

Granville Towers is a strategically located 48-suite apartment building with a massive 250 feet of frontage on Granville Street, in Vancouver’s Marpole neighbourhood. The property offers unique scale for the neighbourhood, and future redevelopment potential through the Marpole Community Plan.

Constructed in 1962 on a 26,692 SF lot, the four-storey building comprises 9 bachelors, 32 one-bedrooms, and 7 two-bedrooms. Other highlights include three sets of owned washer & dryers, 48 tenant storage lockers, ample parking and a number of capital upgrades over the years.

Marpole Community Plan

The property is located within an area of the Marpole Community Plan that allows for rental apartments up to 6-storeys with a choice of uses at grade. This designation envisions mixed-use or residential developments with commercial or live-work at grade along the main frontage.

A new 6-storey secured rental project with 74 market rental units, retail at grade and a density of 3.38 FSR was recently approved opposite the property on the southwest corner of Granville and West 71^st.

Location

Granville Towers is situated on Granville Street at West 72^nd in Vancouver’s Marpole neighbourhood. The building’s convenient location provides quick access across the city and is a short drive to Vancouver International Airport (YVR), and key arterial routes connecting to the rest of the region.

This walkable neighbourhood continues to evolve into a modern transit-orientated community, affording residents easy access to local restaurants, retail, and other everyday amenities. The location is only a short distance from the growing Marine Gateway neighbourhood, where an increasing amount of retail, office and industrial development will soon turn the area into a major employment and economic hub for the city.

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	No. units	Average size
Bachelor	No. units9	Average rent$1,147
1 bedroom (small)	No. units4	Average rent$1,105
1 bedroom	No. units28	Average rent$1,185
2 bedroom	No. units7	Average rent$1,201

Financials

Financing	Treat as clear title
Assessment 2025	Land Building Total	Land$7,839,000 Building$4,622,000 Total$12,461,000
Taxes 2024	$39,614
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$702,156 Vacancy(3,511) Effective gross$698,645 Operating expenses(274,280) Net operating income$424,366
Notes	For additional 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.