Yorkshire Apartments

Overview

Incredible opportunity to acquire a renovated “North of Fourth” Kitsilano apartment building with excellent cash flow and assumable CMHC insured financing in place at a sub-3% interest rate.

Irreplaceable ocean and mountain views! Yorkshire Apartments is a 35-suite four-storey apartment building located on York Avenue in the highly sought-after Kitsilano neighbourhood, one block from the Kitsilano Beach waterfront. The building has been impeccably maintained with extensive upgrades.

The property is improved on a 18,000 SF (150’ x 120’) RM-4 zoned lot. Built in 1967, the building features elevator service, secured underground (26 stalls) and surface parking (15 stalls), storage lockers (35) and recently replaced laundry facilities (2 washers / 2 dryers – owned). The unit mix comprises 6 bachelors, 26 one-bedrooms, 1 two-bedroom, and 2 north-facing one-bedroom penthouses with large rooftop decks. Every suite has been fully renovated within the past 10 years, with modern stainless steel appliances including dishwashers, new cabinets and countertops, and a mix of tile and hardwood floors.

Assumable Financing

Upgrades

Major upgrades include:

• All suites fully renovated between 2015 – 2018: new appliances, countertops, cabinets, flooring, plumbing / electrical
• New windows and patio doors (2018)
• New hallway carpets / painting (2018)
• Roof replacement (2008 & 2014)
• New laundry machines (2 sets washer / dryer)
• Majority of suites updated with breakers

Location

Yorkshire Apartments is located on York Avenue just west of Vine Street in the heart of Vancouver’s Kitsilano neighbourhood. The building is steps to Kits Beach and a block west of the lively Yew Street commercial node. Local bus routes along Cornwall Avenue, one block north, provide convenient access to UBC and Downtown, while West 4th Avenue, four-blocks south, offers extensive shopping, amenities, cafes and restaurants.

The property is also within a 15-minute walk from the future Broadway Line Skytrain station at Arbutus and Broadway, and the Burrard Bridge is only 5 blocks away offering easy access to Downtown Vancouver.

Kitsilano Beach is one of the most popular and scenic parks in all of Metro Vancouver. The seawall and beach itself offer stunning views of English Bay, the West End’s skyline and the North Shore Mountains. The park is also home to Kitsilano Pool, a much-loved heated outdoor facility right on the waterfront, along with tennis, beach volleyball and basketball courts, the Kitsilano Yacht Club, waterfront Boathouse restaurant, and picnic areas.