Below are average cap rates derived from aggregated sales data over 6 months ending September 2012.
City OKs Marine Drive development.
A proposed five-storey development on Marine Drive came one step closer to construction after receiving strong support at a City of North Vancouver council meeting Monday.
Despite questions about the mixed-use building’s density and its possible impact on a neighbouring creek, the project passed second and third readings, leaving the development one vote from adoption.
The property, located at 972 Marine Drive next to Heywood Park at Hamilton Avenue, would include 67 residential strata units above 4,200 square feet of commercial space.
North Shore Outlook – A new kind of grocery store to take over Safeway lot in West Van.
From the outside, it doesn’t seem like much is happening to the boarded-up former Safeway building on Marine Drive in Ambleside.
But crews are quickly working on extensive renovations to make way for Fresh St. Market, a grocery store that will offer 70 per cent veggies, fruit and meat and 30 per cent grocery items.
Read more: http://www.northshoreoutlook.com/news/170352856.html
Park Strand Apartments, located at 1999 Nelson Street, a 50-unit walkup apartment building in the West End of Vancouver has sold for $14,925,000, or $298,500 per unit. The building was built in 1951 and was purchased by a private local investor. The net operating income at the time of sale was projected to be $496,000, representing a 3.3% cap rate. The property had been listed for sale; click here for a brochure.