East Vancouver rental building sold for $3.27M

The ten-unit building sold for $327,800 per suite and offer investors a significant value-add opportunity

By
for Western Investor
November 8, 2017





stanley's apartments
 
An East Vancouver apartment building has sold for $3.27 million, CBRE reports. 
 
Stanley’s Apartments is strategically located within the Grandview-Woodland Plan, providing an opportunity for investor to redevelop the site. The existing rental building has ten units, sold for $327,800 per suite. The 5,934-square-foot building was built in 1959 and is located just blocks from Commercial Drive. 
 
The property is located at 1834 E Pender St., Vancouver. 
 
 

Breakdown: 

 
Price: $3,278,000
No. of Units: 10 
Price/Unit: $327,800
Site Size: 5,934 SF
Property Type: Multi-family 
Zoning: RM-4
2016 B.C. Assessment Value: $2,830,000
City: Vancouver  
Province: B.C. 
Name of Brokerage: CBRE Vancouver 
 

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Lance is executive vice president of CBRE’s National Apartment and Investment Properties Group with close to 21 years of experience in commercial real estate.

CBRE Canada
Suite 2500, 1021 W Hastings St.
Vancouver, B.C. V6E 0C3
Office: 604-662-5141

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