A fully leased retail strip at the corner of Oak Street and West 16th Avenue in Fairview has sold for $7,200,000, representing $1,029 per square foot on the building at a 3.4% cap rate.

The property is a single-storey, multi-tenant retail plaza built in 1936 on a 12,578 square foot corner lot. It was 100% occupied at the time of sale with four tenants: Comma Cafe, Eva & Co Wigs, a dry cleaner, and D. & A.’s Pet Food’N More.

Details:

• Sale price: $7,200,000
• Price/SF: $1,029
• Cap rate: 3.4%
• Building size: 6,996 SF
• Lot size: 12,578 SF
• Sale date: May 2026

The vendor, Concord International Lands Ltd., had held the property since 2006, when it was acquired for $3,808,000 ($495/SF). The buyer was DDH 3208 Oak Holdings Ltd., a Canadian private investor based in Richmond.

The site is designated for mixed-use low-rise development under the Cambie Corridor Phase 3 plan, with up to 3.3 FSR and six storeys of density permitted, yielding approximately 41,500 square feet of buildable area. The future Oak-VGH Broadway Subway Station is approximately 800 metres to the north.

The deal was brokered by Brett Aura and Christine Leung of TRG Commercial.

A rezoning application has been filed by Pennyfarthing Developments to redevelop 5079–5137 Ash Street, just off Cambie Street, proposing a 6-storey residential rental building on a site currently zoned R1-1.

Details of the proposal include:

• 87 rental units
• FSR: 3.27
• Height: 67 ft.

Pennyfarthing is familiar with this block. The developer previously secured rezoning approval at 5079–5161 Ash Street in 2023 for the Slate & Ash project, a larger assembly that included 5161 Ash Street. The current application covers only the southern three lots of that original assembly — 5079, 5111, and 5137 — suggesting either a reconfigured development strategy or phased execution of the broader Ash Street holdings.

The full application can be viewed here: https://www.shapeyourcity.ca/5079-5137-ash-street

The architect for the project is SHIFT Architecture.

Surrey planning staff have recommended approval of a two-building, 366-unit low-rise apartment development at 13831–13859 108 Avenue and 13832–13856 Cowan Road in Whalley.

Details of the development proposal:

• 366 residential units (24 studio / 305 one-bedroom / 37 two-bedroom)
• Two six-storey wood frame buildings over two levels of underground parking
• Density: 2.40 FAR
• Rezoning: R1 and R3 to CD (based on RM-70)
• Parking: 393 vehicle stalls / 464 bicycle spaces

The proposed CD zone increases density from the RM-70 base of 1.5 FAR to 2.40 FAR in alignment with the City Centre Plan’s low-rise designation for the site.

The site currently contains three single-family dwellings and three duplexes. All 54 on-site bylaw trees are proposed for removal, with 100 replacement trees required — to be satisfied through cash-in-lieu given the site’s full redevelopment. Eleven of the 22 boulevard trees along the frontages are proposed for retention.

The project is designed by Barnett Dembek Architects.

A 16-unit low-rise apartment building known as Britannia View Apartments at 1150 Cotton Drive in East Vancouver’s Grandview-Woodland neighbourhood has sold for $5,067,000 — or approximately $317,000 per unit.

• Sale Price: $5,067,000
• Price/Unit: $317,000
• Building Size: 16 units
• Lot Size: 7,884 SF 

The property is a three-storey plus penthouse wood-frame building constructed in 1961, situated on a 7,884 SF corner lot with frontage on both Cotton Drive and William Street. The unit mix consists of five bachelor suites, nine one-bedroom units, one two-bedroom unit, and a bachelor penthouse suite. The building is zoned RM-4 and falls within the Grandview-Woodlands Community Plan, which designates the site for Residential Low-Rise with a long-term potential of up to six storeys under the Britannia Woodland Apartment guidelines.

1150 Cotton Drive is located in Vancouver’s Grandview-Woodland neighbourhood, zoned RM-4 with long-term redevelopment potential under the Grandview-Woodlands Community Plan.

A 38-unit apartment building known as Prince Rupert Villa, at 727 East 7th Avenue in Mount Pleasant has sold for $10,640,000.

The 3-storey wood frame building was constructed in 1972 on a 17,729 SF (0.41 acre) lot with 145.5 feet of frontage on East 7th Avenue. The suite mix comprises 23 one-bedrooms, 12 studios, and 3 two-bedrooms, with 26 underground parking stalls. Based on a reported net operating income of $526,841, the transaction reflects a going-in cap rate of 5.0%.

Details:

• Purchase Price: $10,640,000
• Price per Unit: $280,000
• Cap Rate: 5.0%
• Number of Units: 38
• Building Type: 3-storey wood frame (1972)
• Site Area: 17,729 SF (0.407 acres)
• NOI: $526,841
• Zoning: RM-3

The $280,000 per unit result is notable in the context of recent Mount Pleasant apartment activity. In November 2025, a 23-unit walkup in the same neighbourhood sold for $7,550,000 ($328,261 per unit) at a 4.0% cap rate. Earlier, a 20-unit building at 2575 Windsor Street traded at $6,600,000 ($330,000 per unit) at a 3.2% cap rate. At $280,000 per unit, the East 7th Avenue sale reflects a wider cap rate (5.0%) and correspondingly lower per-unit pricing — likely a function of the building’s unit mix, which is heavily weighted toward studios and one-bedrooms.

The property is located within the Broadway Plan’s Mount Pleasant North Apartment Area — Area B, which designates the site for mid- to high-rise residential use and is eligible for rezoning. Several significant rezoning applications have been filed in the immediate area, including a 22-storey, 273-unit rental tower proposed at East 2nd and Brunswick Street and a 19-storey, 175-unit rental tower at 523-549 East 10th Avenue, both being considered under the Broadway Plan.

The sale was brokered by Goodman Commercial Inc.