Overview
Windsor Apartments is a well maintained three-storey 20-suite apartment building in Mount Pleasant, one of Vancouver’s most sought-after rental markets. Built in 1967 on a 12,047 SF lot (99’ x 122’), the building features 20 one-bedroom suites, 8 parking stalls (4 covered, 4 surface), 12 storage lockers, and one set of leased washer / dryer.
Building upgrades include new double pane windows and sliding doors (2021); re-piping of domestic hot & cold water lines (2019); electrical breakers in every suite (2013); roof replacement (2011) and boiler replacement (2010).
The property also offers future redevelopment potential based on its high-density designation within the Broadway Plan, permitting rezoning for up to 20-storeys and 6.5 FSR.
Broadway Plan
The site is located within Mount Pleasant North Apartment Area – Area B (MNAB) within the Broadway Plan. MNAB allows rezoning for up to 20-storeys and 6.5 FSR as a secured market rental building with 20% of floor space at below-market rents.
The MNAB area has a 150-foot minimum frontage requirement, with provisions for a conditional relaxation to 99 feet. The properties west of the building on the same block have a different Broadway Plan designation, suggesting it’s possible the City of Vancouver will permit a relaxation as there is no opportunity to increase the frontage within the MNAB district. Please click here for more details.
Location
Windsor Apartments is located in Mount Pleasant, on the northwest corner of East 10th Avenue and Windsor Street, a half-block south of East Broadway.
Mount Pleasant is a vibrant and diverse neighbourhood known for its eclectic culture and a mix of heritage buildings and modern developments that create a dynamic and highly livable urban setting. The neighborhood boasts excellent public transit options, is a short bike ride from Downtown Vancouver, and is home to a variety of trendy boutiques, cafes, and restaurants, making it one of the most amenity rich parts of the city.
The neighbourhood is also home to a significant and growing hub for creative and technology industry employers, and is a five-minute drive from Vancouver General Hospital (VGH) and the Central Broadway corridor, the second largest concentration of jobs in the province.
With a lively cultural scene, ample parks and green spaces, access to employment, commercial and cultural amenities, and proximity to Downtown Vancouver, Mount Pleasant attracts a diverse population, from students and young professionals to families and retirees. Its combination of convenience and lifestyle makes it one of Vancouver’s most desirable places to live.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
1 bedroom | No. units20 | Average rent $1,307 |
Financials
Financing | Treat as clear title | |
---|---|---|
Assessment 2024 | Land Building Total | Land$5,253,000 Building$182,000 Total$5,435,000 |
Taxes 2024 | $16,612 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$316,945 Vacancy(1,585) Effective gross$315,360 Operating expenses(105,526) Net operating income$209,834 |
Notes | For rent roll & expenses, 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.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Ian Brackett
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Ian Brackett
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3