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For sale

Multi-family investment property

1222 E 12th Avenue, Vancouver

$2,495,000

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Price $2,495,000

Units 3

Storeys 3

Net rentable area 3,271 SF

Year built 1911

Lot size 6,350 SF (50’ × 127’)

Zoning RT-5 Two Family Dwelling

Rental rate $2.23/SF

Cap rate 2.7%

Gross income multiplier 28.5

Parking Multi-carport at rear

PID 015-488-632

Legal description Lot 11 Block 172 District Lot 264A Plans 222 and 1771

Overview

Completely renovated “down to the studs” 3-suite investment property in Vancouver’s sought-after Mount Pleasant neighbourhood. Improved on an large 50’ × 127’ lot. The comprehensive renovation program was completed in August 2020 to a tasteful, yet durable standard inside and out.

The suites are extremely well appointed featuring contemporary high-end design such as ash-coloured laminate flooring, LED lighting throughout, open/bright extra-large living spaces/bedrooms, gourmet kitchens with brand new cabinetry, modern appliance packages and beautifully finished bathrooms. There is ample private/shared outdoor space for each unit with a partially covered multi-carport in the rear plus a paved laneway.

This property offers an exceptional turn-key investment opportunity or the long term flexibility to make it a family-owned property with a suite for each member.

Upgrades

Sundeck flooring redone
New downpipe gutters
New landscaping + irrigation system
Parking pads redone
Full interior and exterior paint job
Kitchen: All new appliances including fridges, dishwashers, ovens, overhead oven fans, countertops, cabinetry, sinks, faucets
Washrooms: New toilets, tubs, sinks, cabinets, countertops, faucets and plumbing fixtures
Appliance package: Samsung fridges and ranges; LG dishwashers; Bloomberg washers / dryers
All new interior and exterior doors (except for exterior door of basement suite)
New individually metered electric baseboard heaters
Almost all new electrical wiring
Plumbing: 85-90% of all internal plumbing pipes within the walls were replaced (100% of fixtures replaced)
New durable flooring throughout
New tiling throughout kitchen with backsplash and on washroom walls and floors
New electrical plugs and fixtures
New ensuite washer and dryers
Renovated “down to the studs” with majority of the drywall replaced
New doorbells
New LED interior light fixtures, pot lights and kitchen fixtures.
New energy efficient windows throughout
New blinds throughout
Closets all redone
New exterior stairs and deck railings
New hot water boiler.
New electrical fixtures such as plugs, telephone jacks and low voltage wires

Show less

	No. units	Average size	Average rent
2 bedroom (lower floor)	No. units1	Average size930 SF	Average rent$1,500
2 bedroom (main floor)	No. units1	Average size1,056 SF	Average rent$3,100
3 bedroom PH (upper + top floor)	No. units1	Average size1,285 SF	Average rent$2,700

Financials

Financing	Treat as clear title.
Assessment 2025	Land Building Total	Land$1,959,000 Building$538,000 Total$2,497,000
Taxes 2025	$8,286.32
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$87,600 Vacancy(438) Effective gross$87,162 Operating expenses(20,677) Net operating income$66,485
Notes	For a rent roll and expense statement, please contact listing agent.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.