14-Unit Kits Apartment Building Sells for 3.4% Cap Rate

A 14‑unit Kitsilano rental apartment building at 2250 York Avenue has sold for $5,995,000. The three‑storey wood‑frame walk‑up, built in 1953, sits on a 75‑foot frontage lot.

The property was sold to General Properties Ltd., a private Canadian investor. The seller, Evereast International Enterprises Ltd., originally acquired the building in 2012 for $4,800,000, reflecting a notable step‑up in value over the past 14 years.

Property Highlights

  • Units: 14
    • 10 × 1‑bedroom
    • 4 × 2‑bedroom
  • Lot Size: 9,148 SF
  • Zoning: RM‑4 (Multiple Dwelling)
  • Parking: 6 covered stalls
  • Amenities: Two locker rooms (14 lockers), shared laundry (1 washer + 1 dryer)

The property was listed and sold by Chris Hayne and Billy Yang: https://www.royallepage.ca/en/property/british-columbia/vancouver/2250-york-avenue/26947768/