For sale

Home / Apartment buildings / Dianne Apartments – 162 West 4th Street, North Vancouver

For sale

Dianne Apartments

162 West 4th Street, North Vancouver

$3,300,000

Print options

Would you like to print the gallery images?

Yes No

Price $3,300,000

Property type Apartment building

Units 10

Storeys 3 + penthouse

Year built 1955

Lot size 7,004 SF (50’ x 140’)

Zoning RM-1

Price per unit $330,000

Cap rate 3.1%

Gross income multiplier 20.2

Parking 5 surface stalls

Development potential Up to 6 storey & 2.6 FSR under Residential Level 5 designation

PID 013-123-629

Legal description Lot 29 Block 125 District Lot 274 Plan 879

Overview

Dianne Apartments is a three-storey plus penthouse, 10-suite apartment building located in North Vancouver’s highly sought-after Lower Lonsdale neighbourhood.

Built in 1955 on a 7,004 SF (50’ x 140’) lot, the building features a well-balanced unit mix of 3 two-bedroom and 7 one-bedroom suites. Additional highlights include five surface parking stalls, seven full-size storage lockers, and an oversized laundry room equipped with one owned washer/dryer set.

One suite on the lower floor is unauthorized, and two large storage rooms present potential for conversion into additional rental units.

The property is zoned RM-1 and designated Residential Level 5, a medium-density designation allowing for development of up to 6 storeys and 2.6 FSR with bonus density.

Upgrades

Various upgrades over the years include:

New torch-on roof (2004)
Re-piping of copper water lines (1999)
High-efficiency boiler with Tekmar system (2001)
Two new hot water tanks (2024)
Upgraded fire panel (2014)
Double-paned windows (2019)
Electrical breakers installed in all suites

Location

Dianne Apartments is located in the heart of North Vancouver’s Lower Lonsdale neighbourhood, one of the top rental districts in Metro Vancouver. Positioned on the north side of West 4th Street, between Chesterfield Avenue and Lonsdale Avenue, the property is just a short walk from Lonsdale Quay and the bustling Shipyards District.

This prime location offers residents convenient access to a wide array of retail amenities, parks and recreational facilities, restaurants, breweries, trendy cafés, and excellent transit connections throughout the North Shore and to Downtown Vancouver.

Show less

	No. units	Average size	Average rent
One bedroom	No. units7	Average rent$1,310
Two bedroom	No. units3	Average rent$1,450

Financials

Financing	Treat as clear title
Assessment 2025	Land Building Total	Land$3,259,000 Building$47,600 Total$3,306,600
Taxes 2024	$10,527
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$163,800 Vacancy(819) Effective gross$162,981 Operating expenses(61,232) Net operating income$101,749
Notes	Suite #9 is a penthouse. Suite #10 on the lower floor is unauthorized. For additional information including financials, please contact the 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.