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13 Suite Multi-Family Building with Redevelopment Potential

1555 E 1st Avenue, Vancouver
For Sale

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Summary

PID
006-721-753
Lot Size
8,631 SF
Dimensions
75.08’ x 114.97’
Zoning
RM-4N
Year Built
1958
Property taxes
$9466.69 (2017)

Legal Description

HQ Commercial has been retained by the owner on an exclusive basis to sell the 100% interest in this 13 suite apartment building located in the Grandview-Woodlands neighbourhood of Vancouver. The properties are strategically located just one block from the trendy Commercial Drive area. This is a rare opportunity to acquire two well-maintained, side-by-side rental apartment buildings in an area that is seeing an increased demand for rental housing. The New Grandview-Woodlands OCP may allow the sites to be assembled and redeveloped as a new purpose-built rental apartment building.

The property is conveniently located one block west of the vibrant Commercial Drive corridor. Commercial Drive is a trendy neighbourhood with cafes, bakeries, and European restaurants. This area continues to grow and has evolved into one of the trendiest neighbourhoods in Vancouver. The neighbourhood is well serviced by transit via commercial drive and the Broadway Bus Corridor. The Commercial-Broadway Skytrain is just minutes away and provides access to Downtown Vancouver and throughout the Lower Mainland. The desirable amenities and demand for premier rental housing presents a unique opportunity to acquire a truly irreplaceable development site at the epicenter of new ongoing and proposed development area.

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