Landmark Chateau is a unique and extensively updated four-storey townhouse complex in a popular East Vancouver location. Originally built as a condominium complex in 1978, the building features stacked two-level townhouse units, many of which have fantastic ocean, mountain, and city views from their private rooftop patios. The building offers a great unit mix with 5 one-bedroom and 37 two-bedroom suites (X of which feature dishwashers), along with full-size storage lockers for all tenants and 44 secured underground parking stalls. A buyer can also take advantage of assumable CMHC financing at an attractive below market rate – 2.61% due June 2027. Share purchase option also available.
Located in the Cedar Cove neighbourhood, the property is designated Apartment (6-storey) within the Grandview-Woodland Community Plan which allows secured rental housing up to 2.40 FSR.
Upgrades to the building include:
- 37 of 42 units have been renovated on turnover, with new cabinetry, countertops, flooring, hardware, lighting, water shut offs, blinds and paint
- Decking on patios has been replaced on an on-going basis over time
- LED parkade lighting (2020)
- New high efficiency boiler (2020)
- Exterior paint (2018)
- New security camera system (2021) and intercom (2018)
- Horizontal hot water supply and shutoffs have been replaced
The property is located at the northeast corner of Triumph Street and Templeton Drive, two blocks west of Nanaimo Street and three blocks north of East Hastings Street. Landmark Cheateau is well positioned on a quiet residential street, nearby Pandora Park, and within short walking distance of the shops, services, and transit along East Hastings Street.
|No. units||Size range||Average rent|
|1 bedroom||No. units5||Size range823 SF||Average rent$1,616|
|2 bedroom||No. units33||Size range842 SF||Average rent$2,310|
|Financing||A CMHC first mortgage in favour of CMLS Financial with an approximate outstanding balance of $9,200,000 at an interest rate of 2.61%, 25 year amortization, maturing June 1, 2027.|
|Income and expenses|
Net operating income
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.