A 20-unit building at 2575 Windsor Street, in the Mount Pleasant area of East Vancouver, has sold for $6,600,000.

The building is described by listing agent Mark Goodman: “Windsor Apartments is a well maintained three-storey 20-suite apartment building in Mount Pleasant, one of Vancouver’s most sought-after rental markets. Built in 1967 on a 12,047 SF lot (99’ x 122’), the building features 20 one-bedroom suites, 8 parking stalls (4 covered, 4 surface), 12 storage lockers, and one set of leased washer / dryer.”

Sale metrics:

• Cap Rate: 3.20%
• Price per Unit: $330,000

The property is also located in an area of the Broadway Plan that allows high-density residential. The property had been listed for sale for $7,100,000.

I’m pleased to announce the sale of 3030 Gilmore Diversion in Burnaby. This 47,000 SF office building is located on a 1.5 acre site.

The sale price was $16,200,000.

Westbank has submitted a rezoning application for the Esso Station at the Southwest corner of Oak Street and West King Edward Street in Vancouver.

The 11,328 SF site at 1010 West King Edward is currently zoned C-2, which allows up to 6-storeys for rental, or 4-storeys for condo. The Cambie Corridor Plan allows up to 6-storeys for condo and 3.0 FSR.

The proposal is to allow for a 14-storey condo building that includes:

• 85 condo units;
  • 34 one-bedrooms, 36 two-bedrooms & 15 three-bedrooms;
• 800 SF of retail space on the ground floor;
• a total density of 8.0 FSR;
• A building height of 143 ft.
• 106 underground parking stalls.

This application is being considered under the Cambie Corridor Plan.

The architect for the project is Olson Kundig, who also designed Wesgroup’s condo project “W16” at West 16th and Cambie Street.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1010-w-king-edward

Sightline Properties has acquired an assembly of 24 single family lots in East Vancouver comprising two city blocks between East Broadway and East 10th Avenue at Kaslo Street.

The properties are located in a high-density residential subarea of the Rupert and Renfrew Station Area Plan, which is in the final stages of public consultation before an expected council adoption of Summer 2025.

The total combined acquisition price for the 24 lots is $91,700,000, or an average of approx. $3,800,000 per lot.

A vacant 15,000 SF, two-storey office building at 1285 Franklin Street in East Vancouver has sold for $10,550,000, or $695 per SF. The purchaser is Freedom Mobile Inc.

The building, located half a block West of Clark Drive, had previously been listed for sale for $11,000,000. It is fully furnished with high quality improvements. The lot size is 15,762 SF.

Jones Lang Lasalle acted as agent in the sale.