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Kitsilano multi-family investment

2165 West 8th Avenue, Vancouver

$3,080,000

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Price $3,080,000

Units 4

Storeys 3

Net rentable area 3,806 SF

Year built 1910

Lot size 5,998 SF (50' x 120')

Zoning RM-4

Rental rate 2.17/SF

Cap rate 2.2%

Gross income multiplier 30.1

Parking 3 spaces

Development potential Up to 20 storeys and 6.5 FSR under the Broadway Plan (subject to land assembly)

PID 015-212-599

Legal description Lot 17 Block 304 District Lot 526 Plan 590

Overview

This well-maintained, four-suite revenue property sits on a valuable 50′ x 120′ RM-4 zoned lot in the heart of Kitsilano, one of Vancouver’s most desirable neighborhoods. Offering immediate rental income and significant long-term development potential, this property is an exceptional investment opportunity.

The building has undergone numerous recent upgrades, including a new roof, double-glazed windows, two modern hot water tanks, enhanced attic insulation, and fresh exterior paint. The common areas have been refreshed with new carpeting and updated paint, fostering an inviting atmosphere for tenants. Two suites have been fully renovated with modern finishes, while the remaining units have received partial upgrades, including updated bathrooms and paint throughout. Additionally, the oil tank was professionally removed in July 2011.

The property is located within the KKNA – Kitsilano North – Area A – Residential Apartment Areas of the Broadway Plan and is designated for high-rise development. If assembled with neighboring parcels, the site offers significant redevelopment potential, allowing for the construction of a high-rise tower of up to 20 storeys with a density of 6.5 FSR.

Location

2165 West 8th Avenue is located in Vancouver’s coveted Kitsilano neighbourhood, renowned for its exceptional connectivity and urban amenities.

Steps from major transit routes, the property offers seamless access to Downtown Vancouver and UBC. Tenants enjoy immediate proximity to the vibrant commercial hubs of West Broadway and West 4th Avenue, boasting diverse shops, restaurants, and services.

Nearby schools, Kitsilano Beach, and local parks further enhance the area’s appeal, driving strong rental demand and long-term redevelopment potential. This prime, amenity-rich location positions the property as a cornerstone of one of Vancouver’s most sought-after multifamily markets.

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	No. units	Average size	Average rent
1 bedroom	No. units1	Average size589 SF	Average rent$1,050
2 bedroom	No. units1	Average size850 SF	Average rent$1,850
3 bedroom	No. units2	Average size1,184 SF	Average rent$2,680

Financials

Financing	Treat as clear title
Assessment 2025	Land Building Total	Land$3,378,000 Building$63,700 Total$3,441,700
Taxes 2025	$11,721
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$102,761 Vacancy(514) Effective gross$102,247 Operating expenses(35,776) Net operating income$66,471
Notes	For a rent roll and expense statement, 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.