A 32-suite apartment building in North Vancouver’s Central Lonsdale neighbourhood has changed hands, with 1240 St. George Avenue — known as the Harvard Apartments — selling for $12,250,000.
The three-storey, wood-frame walk-up was built in 1970 and sits on an 18,077-square-foot corner lot with frontage on both St. George Avenue and East 13th Street, directly across from Lions Gate Hospital. The suite mix includes 10 bachelor units, 14 one-bedroom units, and 8 two-bedroom units, with underground parking and balconies. The property is zoned RM-1 for medium-density apartment residential use.
Deal snapshot:
- Sale price: $12,250,000
- Price per unit: $382,813
- Cap rate: 4.0%
- Building size: 32 units (10 bachelor, 14 one-bedroom, 8 two-bedroom)
- Lot size: 18,077 SF
Cushman Wakefield listed and sold the property.