Lord Nelson Place
309 West 3rd Street, North Vancouver
Lord Nelson Apartments is a clean and well-maintained 41 suite 3-storey apartment building centrally located in North Vancouver’s highly desirable Lower Lonsdale neighbourhood. The building has had on-going updates over the years and offers 28 one-bedroom and 13 two-bedroom suites on a large 24,000 SF corner lot at the southwest corner of West 3rd Street and Mahon Avenue.
Highlights of the building include secured underground parking (41 stalls), tenant storage (41 lockers), attractive landscaping, and suites with many updates and spacious balconies. Recent leasing shows lots of upside in existing rents on turnover, while the Residential Level 5 (Medium Density Mid-Rise Apartment) OCP designation allows for future redevelopment up to 2.60 FSR.
Regular maintenance and upgrades have been performed on the building over the years, including:
- Plumbing updates, including replaced piping and shut off valves to the east and west side of the building (2015 & 2019 respectively), laundry room (2018), and basement (2020)
- Hot water tank (2014)
- Heating boiler (2016)
- Domestic boiler (2016)
- Elevator modernized and upgraded
- Carpet replaced in lobby and hallways
- Updated balcony railings and decks (all units)
- Updates to the majority of kitchen and bathroom cabinets
Lord Nelson Apartments is located in arguably the hottest area of North Vancouver in the heart the Lower Lonsdale. Situated on the corner of West 3rd Street and Mahon Avenue, two blocks west of Lonsdale Avenue, the property is within close walking distance to Lonsdale Quay and the bustling Shipyards District. The Lower Lonsdale location offers convenient access to a range of retail amenities, supermarkets, parks and recreational services, restaurants, breweries, trendy cafes and excellent transit connections across the North Shore and Downtown Vancouver.
|No. units||Average size||Average rent|
|1 bedroom||No. units28||Average rent$1,334|
|2 bedroom||No. units13||Average rent$1,639|
|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.