Overview
Crest Plaza is a well-maintained 33-suite three-storey (plus penthouse) apartment building, centrally located on a large corner lot in Vancouver’s Marpole neighbourhood.
Constructed in 1965 on a 150’ x 140’ (20,949 SF) RM-3A zoned lot, the building comprises 3 bachelors, 25 one-bedrooms, and 5 two-bedrooms. Other highlights include two sets of owned washer & dryers, 37 tenant storage lockers and 26 surface parking stalls.
A number of capital upgrades have recently been completed, including a new fire panel (2024), new boilers (2023), updated common area carpets (2023), new hot water tanks (2022), intercom (2021), and portions of the roof replaced (2022).
Location
Crest Plaza is positioned on the southwest corner of Montcalm Street and West 72nd Avenue 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.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
Bachelor | No. units3 | Average rent$986 | |
1 bedroom | No. units25 | Average rent$1,042 | |
2 bedroom | No. units5 | Average rent$1,452 |
Financials
Financing | Treat as clear title | |
---|---|---|
Assessment 2025 | Land Building Total | Land$7,399,000 Building$1,767,000 Total$9,166,000 |
Taxes 2024 | $29,865 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$453,096 Vacancy(2,265) Effective gross$450,831 Operating expenses(206,391) Net operating income$244,439 |
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.
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