GET IN TOUCH

We’d love to hear from you. Get in touch: we treat all information in confidence.






* Required

Sold

Concrete Apartments

6455 West Boulevard, Vancouver
Multi-family

$9,000,000


Summary

Price
$9,000,000
GIM
21.4
Lot Size
13,551 SF
Units
18
Year Built
1955
Cap Rate
3.8%
Zoning
C-2
Net Rentable Area
16,446
PID
009-928-367
Stories
3
Sale Price
$9,000,000
Sale Date
2/1/2014

Property Description

The subject property is situated mid-block between West 48th and West 49th on West Boulevard in Vancouver’s prime Kerrisdale neighbourhood. Walking distance to West 41st Avenue, considered one of the best upscale shopping districts in the City. Minutes to Point Grey & Magee High Schools, Maple Grove Park & Elementary School, bus transportation, restaurants, and Kerrisdale Community Centre.

Location

The subject property is situated mid-block between West 48th and West 49th on West Boulevard in Vancouver’s prime Kerrisdale neighbourhood. Walking distance to West 41st Avenue, considered one of the best upscale shopping districts in the City. Minutes to Point Grey & Magee High Schools, Maple Grove Park & Elementary School, bus transportation, restaurants, and Kerrisdale Community Centre.

Hightlights

    • Exceptionally well maintained concrete apartment building
    • Rare high-exposure mixed-use redevelopment site
    • Excellent suite mix consisting of 12 two bedrooms and 6 one bedrooms
    • Previously operated as a co-op—to be delivered vacant possession offering the Buyer the ability to rent at full market levels
    • Highly sought after affluent Kerrisdale neighbourhood
    • Favourable C-2 Zoning (2.5 FSR) strengthens land value for redevelopment
    • City’s new Affordable Housing Initiative may allow an increase in density on arterial C-2 zoned routes (such as West Boulevard) and heights of 6 stories
    • Clean site with Stage 1 Environmental Report
    • Potential for assembly with neighbouring properties on either side
    • State-of-the-art Viessmann boiler
    • Piping upgrade with Epoxy
    • Double pane windows
    • Fire upgrades
    • Potential to add approx. 3 suites in excess common area space
    • 4 washers & 4 dryers
    • Covered and uncovered parking for 19 cars

Legal Description

Lot B of Lots 18 to 24 of Block 1, DL 526, PL 8817

PID

009-928-367

Financial Summary

Financing: Treat as clear title

Assessment 2012

Land: $5,759,000
Building: $33,800
Total: $5,792,800

Taxes 2013: $17,419

Income and Expenses

Gross Income: $402,480
Vacancy: (6,037)
Effective Gross: $396,443
Operating Expenses: (66,912)
Net Operating Income: $329,531

 

Suite Mix

No. Units Avg. sq. ft.
One Bedroom 6 773
Two Bedrooms 12 984

Mortgage
Calculator

Mortgage
Interest rate
Amortized over
Your monthly payment is approximately

* Assumes constant interest rate throughout amortization period

%
Year(s)
Reset

Please enter digits and decimals only.