Overview
The Winsted is a well-maintained 8-suite two-storey + basement apartment building located two lots in from the southwest corner of Granville Street & 71st Avenue in Vancouver’s Marpole neighbourhood. Fronting the arterial Granville Street, with a large well-groomed hedge providing a buffer between the street and building, the property is within walking distance to public transit and everyday retail amenities. Additionally, the property is situated in the Marpole Community Plan allowing for a 6-storey mixed-use rental building.
Constructed in 1955 and improved on a 66’ x 95.5’ (6,273 SF) RM-3A zoned lot, the building comprises a well-balanced suite mix of 4 one-bedrooms and 4 two-bedrooms; one-bedroom suites are located at the front of the building while the two bedrooms are located at the rear. Other features include 2 washer/dryer sets, 7 surface-level parking stalls located at the rear, 7 storage lockers and several large lower-level areas including a guest room and artist studio holding the potential to be converted into an additional bachelor suite.
Highlights
- Double-pane windows
- Two sets of owned washer/dryers: one set in laundry room & one stacked washer/dryer located on second floor currently only used by the owner-occupier of the building
- Dishwashers in all suites (5 portable and 3 built-in)
- Upgraded electrical panels in all suites
- Suites 3, 4 & 7 have renovated kitchens including built-in dishwashers
- Well-maintained carpeted flooring throughout hallways
- Roof replaced (2007) with warranty on materials until 2027
- New building intercom system (2020)
Marpole Community Plan
8733 Granville Street is strategically located in the Marpole Community Plan, providing future redevelopment potential for the property.
The property is zoned for the following: Apartment with choice of use at grade (up to 6 storeys). According to the plan, these at-grade uses may include retail, service, cultural and institutional, live-work or office. Residential use is permitted on upper floors and must be 100% rental.
Location
The building’s convenient location provides quick access to other areas of the city and is a short driving distance to key arterial routes connecting the rest of the region.
This walkable and transit friendly area is also within a 5-minute drive to the growing Marine Gateway neighbourhood. This area continues to evolve into a modern transit-orientated community, affording residents easy access to local restaurants, retail, and other everyday amenities. Additionally, with the increasing list of office and industrial development slated for construction in the Marpole neighbourhood, it will soon become a major employment and economic hub for the city.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
1 bedroom | No. units4 | Average rent - | |
2 bedroom | No. units4 | Average rent- |
Financials
Financing | Treat as clear title. | |
---|---|---|
Assessment 2022 | Land Building Total | Land$2,410,000 Building$173,000 Total$2,583,000 |
Taxes 2021 | $7,500 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$163,200 Vacancy(816) Effective gross$162,384 Operating expenses(39,018) Net operating income$123,366 |
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.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Manraj Dosanjh
Kris Pope (Dexter Realty)
Personal Real Estate Corporation
pope@dexterrealty.com
(604) 318 5226
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Manraj Dosanjh
Kris Pope (Dexter Realty)
Personal Real Estate Corporation
pope@dexterrealty.com
(604) 318 5226
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3