Rare opportunity to acquire a 27-suite three-storey apartment building in the heart of Vancouver’s Kerrisdale neighbourhood. Constructed in 1964 and improved on a 132’ x 125’ lot (16,500 SF), the property is well-maintained and features a two-bedroom penthouse, an elevator, 21 parking stalls (8 covered; 13 surface), 23 tenant storage lockers (15 interior; 8 exterior), 2 sets of washers/dryers and balconies/patios. Property is held in a bare trust.
- 1987: Fire alarm upgrade: smoke and heat detectors, manual pull stations, emergency lighting
- 1995: Repainting exterior (elastomeric paint)
- 1998: Copper re-piping of domestic water supply
- 2005: New common hallway carpets
- 2005: Boiler/hot water tanks (high efficiency Viessmann)
- 2009: New roof exceeding RCABC standards with five year warranty (expired)
- 2010: Removed fuse boxes and installed electrical panel in suites
- 2011: Modernization of elevator mechanics and cab interiors
- 2014: Re-painting exterior of building
- 2015: Last inspection of roof and minor maintenance
- Re-painting, floor re-finishing, replacement of fridges/stoves, all as needed
- Balcony floors and railings re-surfaced/replaced, when necessary
Kerrisdale, located in the heart of Vancouver’s affluent Westside, is one of Canada’s most established and wealthy communities. The subject property is located on the west side of Yew Street between W 37th and W 38th Ave, only a few blocks to the Kerrisdale Community Centre. Situated one block to West Boulevard, and only three blocks to West 41st Avenue, considered one of the best upscale high-end fashion and retail shopping districts in the City. Walking distance to Point Grey High School, Maple Grove Park, bus transportation, restaurants, a branch of the Vancouver Public Library and West Main Health Unit.
|No. units||Average size||Average rent|
|Bachelor||No. units1||Average size597 SF||Average rent$1,186|
|1 bedroom||No. units25||Average size632 SF||Average rent$1,302|
|2 bedroom||No. units1||Average size792 SF||Average rent$1,768|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
Gross income 445,812
For current rent roll and expense statement, click here.
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.