Overview
Winston Apartments is a well-maintained, 23-suite low-rise rental building located in Mount Pleasant, one of Vancouver’s most desirable and in-demand rental markets.
Constructed in 1968 on a 12,063 SF lot (99′ x 122′), the property offers strong in-place cash flow with significant revenue upside. The suite mix includes 6 bachelors, 12 one-bedrooms, and 5 two-bedrooms. Building features include private balconies, two sets of owned washer/dryers, secured underground parking (18 stalls), tenant storage lockers (24), and a dedicated bike storage room.
Notable upgrades include ongoing suite renovations upon turnover; installation of electrical breakers in all suites (2013); replacement of domestic and heating water lines (2020); new torch-on roof (2019); double-pane windows; new boiler and hot water tanks (2019); and exterior repainting (2022).
Additionally, the property offers significant future redevelopment potential under the Broadway Plan, with a high-density designation permitting rezoning for up to 20 storeys and 6.5 FSR.
Land use policy
The property is located within Mount Pleasant South Apartment Areas – Area B – Residential Apartment Areas (MSAB) of the Broadway Plan and falls within Tier 3 of the Transit-Oriented Areas rezoning policy.
MSAB allows rezoning for up to 20-storeys and 6.5 FSR as a secured market rental building with 20% of floor space at below-market rents.
Minor increases in height and density (0.3 FSR) may be considered for delivery of ground-level local-serving retail/service uses or childcare.
The MSAB area has a 150-foot minimum frontage requirement, with provisions for a conditional relaxation to 99 feet.
Location
Winston Apartments is ideally located in Mount Pleasant, on the north side of East 15th Avenue, just half a block west of Main Street. The property enjoys a quiet residential setting with immediate access to the vibrant array of shops, restaurants, and services along Main Street. It is also within a short five-minute walk (approximately 500 metres) of the future Mount Pleasant SkyTrain station at Main Street and Broadway.
Mount Pleasant is a dynamic, highly livable neighbourhood known for its eclectic charm, blending heritage architecture with modern development. The area offers excellent public transit connectivity, is a short bike ride from Downtown Vancouver, and is rich in local amenities, including boutique retailers, cafés, and diverse dining options.
The neighbourhood is also a growing hub for creative industries and tech sector employers, and is just a five-minute drive to Vancouver General Hospital (VGH) and the Central Broadway corridor—the second-largest employment centre in British Columbia.
With a vibrant cultural scene, ample green space, access to top employment and educational institutions, and close proximity to downtown, Mount Pleasant attracts a wide demographic—from students and young professionals to families and retirees. Its unique mix of convenience, lifestyle, and character makes it one of Vancouver’s most desirable places to live.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
Bachelor | No. units6 | Average rent$1,240 | |
One bedroom | No. units12 | Average rent$1,404 | |
Two bedroom | No. units5 | Average rent$2,089 |
Financials
Financing | Treat as clear title | |
---|---|---|
Assessment 2025 | Land Building Total | Land$4,903,000 Building$2,233,000 Total$7,136,000 |
Taxes 2025 | $22,804 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$425,282 Vacancy(2,126) Effective gross$423,155 Operating expenses(124,757) Net operating income$298,399 |
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.
Contact
Megan Johal
Personal Real Estate Corporation
megan@goodmanreport.com
(604) 537 8082
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
Megan Johal
Personal Real Estate Corporation
megan@goodmanreport.com
(604) 537 8082
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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