David Apartments is a well-maintained 20-suite three-storey (plus penthouse level) rental apartment building located on Vancouver’s coveted Cornwall Avenue, just steps to Kits Beach waterfront.
Built in 1954 and improved on an 11,800 SF corner lot, the property features a suite mix of 14 one-bedrooms and 6 two-bedrooms. The building originally contained 21 units, however, units #1 & #3 were joined together into a large two-bedroom on the ground floor.
Other highlights include covered parking (8 stalls at rear), tenant storage (2 rooms totalling 16 lockers); 2 sets of washers/dryers (leased), bike storage and a workshop room + bathroom (potential to combine with large laundry room for an additional suite).
15 of the 20 units have been renovated including laminate flooring; complete kitchen upgrades (countertops, cabinets, tile flooring, appliances); complete bathroom upgrades (vanity, flooring, tub surrounds) and electrical breakers. The penthouse suite was updated with a large patio deck. The furnace room contains two boilers (replaced in 2014).
David Apartment is situated on the southwest corner of Cornwall Avenue and Maple Street in the heart of Vancouver’s prime Kitsilano neighbourhood. Only steps to Kits Beach with a bus line right out front on Cornwall (direct access to UBC and Downtown). Just 5 blocks away to West 4th Avenue offering convenient shopping, amenities, cafes, restaurants and bus transportation.
Kitsilano Beach’s coastline offers stunning views of English Bay, the West End’s skyline and the North Shore Mountains. Within walking distance is Kits Beach pool and park, a seaside walkway that overlooks the Burrard Inlet and Kitsilano Yacht Club. The Burrard Bridge is only 2 blocks away offering easy access to Downtown Vancouver.
|No. units||Average size||Average rent|
|One bedroom||No. units14||Average rent$1,437|
|Two bedroom||No. units5||Average rent$1,815|
|Two bedroom PH||No. units1||Average rent$2,163|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.