The Excelsior is a 30-suite three-storey plus penthouse apartment building located in the highly desirable Kerrisdale neighbourhood on the south side of West 41st Avenue, east of Maple Street. The building has been meticulously maintained over the years and offers strong cash flow. The Vancouver Plan identified West 41st as a ‘rapid transit area’ which will likely allow for some change in the coming years.
Built in 1960 and improved on a large 150’ x 128’ (19,147 SF) RM-3A zoned lot, the property comprises a suite mix of 5 bachelors, 20 one-bedrooms, 4 two-bedrooms and a large two-bedroom penthouse. Highlights include two sets of owned washers/dryers, storage lockers (31), bike room, surface parking (16 stalls) and attractive landscaping. The stunning penthouse suite offers an extra-large south facing patio along with many upgrades, including stainless steel appliances.
There have been several updates over the years:
- Re-piping: 1st floor main water supply and re-circulation (2017)
- Exterior painting (2014)
- Roof replacement (2013)
- Hot water tank replacement (2013)
- Elevator hydraulic modernization & cylinder replacement (2013)
- Window trim, patio door and drip cap replacement (2012)
- Parking lot and front walkway upgrades (2012)
- Boiler replacement (2004)
- Domestic hot water re-piping (2003)
- Updated balconies / decks
The Excelsior is located in the heart of Vancouver’s affluent Westside Kerrisdale neighbourhood, within walking distance to a variety of popular local restaurants, cafes and other everyday retail amenities. It’s also within steps to Vancouver’s famed Arbutus Corridor walkway, a 9 km stretch of walking and biking paths running north-south through the city’s Westside.
The property’s location also affords tenants convenient public transit options with local bus service (including RapidBus) running along West 41st Avenue, with connections to UBC, Oakridge and Joyce Station. Additionally, it’s also within walking distance to Point Grey Secondary, Maple Grove Elementary and Kerrisdale Community Centre.
|No. units||Average size||Average rent|
|Bachelor||No. units5||Average rent $1,278|
|1 bedroom||No. units20||Average rent $1,507|
|2 bedroom||No. units4||Average rent $1,679|
|2 bedroom PH||No. units1||Average rent $3,500|
|Financing||Treat as clear title.|
|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.