Lonsdale Court is a 23-suite three-storey apartment building conveniently located in Vancouver’s Marpole neighbourhood. Constructed in 1966 on a 100’ x 121.6’ (12,145 SF) RM-3A zoned lot, the building’s suite mix comprises 22 one-bedroom suites and 1 two-bedroom suite. The property features mature landscaping on a tree-lined street within a 10-minute walk to the Marine Drive Skytrain station and all the shops and services at Marine Gateway.
The building offers secured underground parking (16 stalls), leased washer/dryer (2 sets), tenant storage (18 lockers) and balconies/patios for all suites. Various upgrades have been completed over the years, including new laminate flooring in 11 suites and updated balconies for 3 suites. All suites have been converted to circuit breakers, while a new roof was installed in 2004 and 4 new domestic hot water boilers were installed in 2007 / 2009.
Lonsdale Court is well-positioned near the rapidly growing Marine Gateway transit hub in Marpole, only a half-block north of Southwest Marine Drive and four blocks west of Cambie Street and the Marine Drive Skytrain station. Marine Gateway, an award-winning mixed-use development anchored by a T&T Supermarket, Cineplex Cinemas, and WeWork co-working office space is located less than a 10-minute walk from the property. Furthermore, significant new multi-tower developments by both Chard and Intracorp have been approved within three blocks of the site, while a major expansion of both residential and employment space has been proposed in PCI’s Marine Gateway 2 project.
The area continues to evolve into a modern transit-oriented community, affording residents easy access to restaurants, retail, and other everyday amenities. Additionally, with the increasing list of office and industrial development slated for construction in this neighbourhood, it will soon become a major employment and economic hub for the city.
|No. units||Average size||Average rent|
|1 bedroom||No. units22||Average rent $1,064|
|2 bedroom||No. units1||Average rent $989|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
For a rent roll and expense statement, please 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.