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Avesta Apartments

1629 St. Georges Avenue, North Vancouver
22 large luxury suites
Totally rebuilt in 2013

$12,000,000


Summary

Price
$12,000,000
Units
22
Stories
5
Net Rentable Area
16,387 SF
Price/Unit
$545,455
Cap Rate
2.74%
GIM
27.6
Year Built
2013 (rebuilt)
Lot Size
66’ × 140.8’ (9,299 SF)
Zoning
CD-603, Comprehensive Development Zone
PID
010-719-504
Legal Description
Lot 18 Blocks 31 and 37 District Lot 549 Plan 7163
Tax
$28,131

Legal Description

Avesta Apartments is a totally rebuilt luxury 22-suite five-storey rental apartment building located in North Vancouver’s popular Central Lonsdale neighbourhood, only two blocks east of Lonsdale Avenue just off East 17th Street.

Improved on a 9,299 SF RM-4 zoned lot, the entire building was stripped down to the studs, completely rebuilt and expanded by 2 additional storeys in 2013. Avesta Apartments features excellent curb appeal with a striking entrance highlighted by a West Coast designed timber trellis and beautiful landscaping.

Of the 22 large oversized units, 11 are one-bedrooms averaging 605 SF; 10 are two-bedrooms averaging 856 SF; and one is a two-bedroom & den totalling 1,180 SF.

The lobby is modern with metal benches and tasteful art work. The suites feature contemporary high-end suite design with new flooring, rebuilt kitchens and bathrooms, modern appliances (including in-suite laundry, microwaves and dishwashers) and open concept floor plans with lots of natural light. Additional features include surface parking, secure storage for tenants (21 lockers), bicycle storage, balconies and electric heat paid by the tenants.

Avesta Apartments provides investors a worry-free building with professional property management in place and an unparalleled level of fit and finish. Additionally, it offers tenants an extremely convenient location in terms of public transit, shopping, entertainment and various amenities along Lonsdale Avenue.

 

No. Units Avg. Sq. Ft. Avg. Rent
1 bedroom 11 605 SF $1,466
2 bedroom 10 856 SF $1,838
2 bedroom + den 1 1,180 SF $1,900
Total 22

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