Centennial House represents a rare opportunity to own a 94-unit rental apartment building located in Vancouver’s Marpole neighbourhood, within short walking distance to the Marine Drive Canada Line Station. This 12-storey concrete high-rise sits on a 36,157 SF site with 298 feet of frontage and includes ~18,000 SF of excess infill development land well positioned to capitalize on growing housing demand in this rapidly changing area. The building comprises an attractive suite mix of 46 one-bedrooms and 48 two-bedrooms and features panoramic views of the Fraser River and Vancouver’s urban landscape.
Infill development potential
The western half of the subject property affords a unique infill opportunity on approximately 18,000 SF of excess land. A preliminary architect’s zoning study proposes potential development ranging from 6-storey low-rise to 12-storey high-rise. An architect’s letter with several options is available upon request.
725 W 70th is located at the southernmost edge of Vancouver, affording convenient access to several arterial routes connecting the Metro Vancouver region. The building’s north-south orientation offers unobstructed views of the Fraser River and beyond. Most conveniently, Centennial House is located within 5-minutes walking distance to the Marine Drive Canada Line Station. The Cambie and Marine neighbourhood continues to evolve into a modern transit-oriented community, offering many amenities including entertainment, retail and office.
|No. units||Average size||Average rent|
|1 bedroom||No. units46||Average rent$1,089|
|2 bedroom*||No. units48||Average rent$1,318|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
* Suite mix includes a large office that could be converted to an unauthorized 2-bed, 2-bath suite.
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.