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Rim Rock Manor

8630 Osler Street, Vancouver

SOLD $6,000,000

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Price $6,100,000

Property type Apartment building

Units 21

Storeys 3 + penthouse

Year built 1965

Lot size 12,210 SF (99’ x 123.2’)

Zoning RM-3A

Price per unit $290,476

Cap rate 3.3%

Gross income multiplier 20.0

Parking 8 surface + 6 covered stalls

PID 013-440-560, 013-440-578, 013-440-586

Legal description Lots 30-32 of Lots 1 to 5 Blocks 1 to 6 and 12 of Block C District Lots 319, 323 and 324 Plan 2733

Sale price $6,000,000

Sale date 12/16/2024

Overview

Rim Rock Manor is a well-maintained 21-suite three-storey plus penthouse apartment building centrally located on a beautiful tree-lined street in Vancouver’s Marpole neighbourhood.

Constructed in 1965 on a 99’ x 123.2’ (12,210 SF) RM-3A zoned lot, the building’s suite mix comprises 5 bachelors and 16 one-bedrooms. Other highlights include two sets of leased washer & dryers, ample parking with 6 covered and 8 surface stalls located at the rear of the property and a number of capital upgrades including re-piping (2017), new boiler (2017), new roof (2011) and resurfacing of all balconies. An oil tank was recently removed.

Location

Rim Rock Manor is located on Osler Street in Vancouver’s Marpole neighbourhood, just south of West 70th Avenue, a half-block west of Oak Street. The building’s convenient location provides quick access across the city and is a short drive to Vancouver International Airport (YVR), and key arterial routes connecting to the rest of the region.

This walkable neighbourhood continues to evolve into a modern transit-orientated community, affording residents easy access to local restaurants, retail, and other everyday amenities. The location is only a distance from the growing Marine Gateway neighbourhood, where an increasing amount of retail, office and industrial development will soon turn the area into a major employment and economic hub for the city.

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	No. units	Average size	Average rent
Bachelor	No. units5	Average rent $1,216
One bedroom	No. units16	Average rent$1,204

Financials

Financing	Treat as clear title
Assessment 2024	Land Building Total	Land$5,650,000 Building$32,300 Total$5,682,300
Taxes 2023	$19,329
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$307,070 Vacancy(1,535) Effective gross$305,535 Operating expenses(103,996) Net operating income$201,539
Notes	For current rent roll and expense statement, please click here.

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