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Esquire Apartments

2424 West Broadway, Vancouver
Multi-family

$4,000,000


Summary

Units
10
Stories
3
Net Rentable Area
6,100 SQ FT
Cap Rate
2.1%
GRM
32.0
Year Built
1949
Zoning
RM-4 Multiple Family Residential
Lot Size
50 FT x 125 FT (6,250 SQ FT)
PID
004-649-982
Net Operating Income
$84,856

Esquire Apartments in a 10-suite, 3-storey walk-up rental apartment building located in Vancouver’s popular Kitsilano neighbourhood. Built in 1949, the building is clean and well-maintained and features hardwood floors and a suite mix of 8 one-bedrooms and 2 bachelor units. Significant rental up-side (suite are currently renting $1.57 per square foot on average).

  • 3-storey wood-frame rental building featuring 10 suites
  • Suite mix: 2 bachelors (450 square feet) and 8 one-bedrooms (650 square feet)
  • Central Kitsilano location on West Broadway with convenient bus transportation and amenities
  • 4 enclosed garages at rear rented out as storage
  • Surface parking stalls for approximately 8 cars
  • Separate locker room for tenants
  • Washer/dryer owned by building
  • Oil tank removed; clean Stage 1 Environmental Report

Upgrades

  • Piping renewed (2000)
  • Windows in rear and east side replaced
  • Doors in suites changed
  • Hardwood floors refinished in all suites
  • Smoke/heat detectors in all suites
  • Hot water tank replaced (2008)
  • Roof replaced (2007)
  • New hallway carpets (2016)
  • Suites are for the most part original, except for ongoing renewal of appliances and bathroom fixtures

Esquire Apartments is located on the south side of West Broadway between Larch Street and Balsam Street in Vancouver’s popular Kitsilano neighbourhood. West Broadway offers convenient shopping, amenities, cafes, restaurants and bus transportation for direct access to UBC and Downtown.

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