The Copper Lion

Overview

Exceptional cash flow – 5% cap rate on ask! The Copper Lion is a well-maintained 17-suite apartment building on Granville Street, south of West 71st Avenue in Vancouver’s Marpole neighbourhood.

Constructed in 1956 on a 9,448 SF lot, the building offers a balanced suite mix with 4 one-bedrooms, 4 one-bedrooms + den, 6 two-bedrooms and 3 three-bedrooms. Four units are unauthorized.

Additional features include one owned washer/dryer set and nine surface parking stalls. Significant ancillary income is derived from commercial leases in place for 7 lane access storage garages, as well as an interior office + storage room. There is a recently complete clean Stage 1 environmental report on file. The property is held in a bare trust allowing for significant tax savings.

The site is designated for up to six-storey development with choice of use at grade in the Marpole Community Plan. A development permit application was approved in March 2024 for the site immediately north, to allow a six-storey mixed-use project with 77 market rental units, commercial at grade, and a total FSR of 3.38.

Upgrades

Building upgrades over the years include:

• New roof and skylights in 2020
• New double-pane windows in the last 7 years
• Significant piping upgrades
• New hot water tank
• Updated kitchens in 15 of 17 units within the last 7 years
• 7 of 17 units have dishwashers
• New building intercom in 2015
• All suites on electric breakers
• Interior common areas repainted and new flooring installed

Location

The Copper Lion is located in Vancouver’s Marpole neighbourhood fronting the arterial Granville Street, just south of West 71st Avenue. It features a large well-groomed hedge providing a buffer between the street and building and is within walking distance to public transit and everyday retail amenities. The 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.