SALE SUMMARY

• Sale Price: $10,650,000
• Price Per Unit: $355,000
• Building Size: 30 units (13 bachelor, 14 one-bedroom, 3 two-bedroom)
• Lot Size: 12,981 SF

A 30-unit apartment building at 1025 Chilco Street in Vancouver’s West End has traded hands for $10,650,000, working out to $355,000 per unit. The three-storey, wood-frame walk-up was built in 1952 and sits on a 12,980.88 SF corner lot with frontage on both Chilco and Nelson Streets.

The building was originally brought to market by Marcus & Millichap at an asking price of $12,300,000, meaning the completed sale represents a discount of roughly 13% off the initial ask. Brandan Price of Rennie represented the Purchaser.

Zoned RM-5B (Multiple Dwelling) and located within the West End’s Low-Rise Residential land use designation, the site offers a mix of bachelor and one-bedroom suites with limited on-site parking (10 individual garage doors). The West End remains one of Vancouver’s most consistently active apartment submarkets, and this transaction adds another data point to the borough’s ongoing turnover of older rental stock.

Sale Price: $48,000,000
Price per Unit: $842,105
Cap Rate: 4.7%
Building Size: 75,120 SF (57 units, average 1,318 SF)
Lot Size: 9.44 acres

Known as Twin Lakes Estates, the property spans seven two-storey, wood-frame buildings originally constructed in 1971. The unit mix is exclusively family-sized, with 13 two-bedroom suites averaging 1,050 sq. ft. and 44 three-bedroom suites averaging 1,350 sq. ft. Each unit includes in-suite laundry, a fireplace, and 2.5 bathrooms, and the site offers 117 outdoor parking stalls — roughly half covered by carports.

The vendor, a joint venture between KingSett Capital and Starlight Investments (through IMH Twin Lakes Apartment Ltd.), had acquired the asset in April 2022 for total consideration of $52,500,000, or $921,053 per unit. Since then, the ownership group invested over $1.5 million in capital upgrades — approximately $918,000 renovating 45 of the 57 townhomes (79% of the portfolio) and roughly $646,000 on exterior common area, structural, and mechanical improvements.

Despite that repositioning spend, the current sale price per unit came in below the 2022 acquisition basis, underscoring the cap rate expansion that’s worked through Metro Vancouver’s institutional multifamily market over the past several years. The deal closed with Manulife Financial identified as purchaser.

At $842,105 per unit, Twin Lakes priced well above the broader North Vancouver apartment average of roughly $465,000 per unit — a premium attributable to the property’s low-density, garden-style townhouse format, its 9.44 acres of RM-5-zoned land, and an unusually stable, family-oriented tenant base that’s supported strong long-term occupancy.

JLL listed and sold the property: https://invest.jll.com/ca/en/listings/living-multi-housing/twin-lakes-townhomes-north-vancouver

A 21-unit low-rise apartment building in Marpole has sold for $5,439,000, reflecting $259,000 per unit and a 4.5% capitalization rate. The property at 8665 Osler Street transacted as a share sale in June 2026.

The building is a three-storey wood-frame structure built in 1962, comprising six bachelor units, 11 one-bedroom units, and four two-bedroom units across approximately 19,400 SF of rentable area. The property sits on a 13,811 SF lot with 99 feet of frontage on Osler Street and includes surface and covered parking for 13 vehicles. The building was well-maintained by the vendor, with 19 of 21 suites upgraded and a series of capital improvements completed in recent years including a full re-pipe (2017), new TPO roof (2011), double-glazed windows (2015), and a new IBC boiler for hydronic heat (2023).

The property is located approximately one kilometre from Marine Drive Canada Line SkyTrain Station. A listing brochure is available online.

DETAILS:

• Sale price: $5,439,000
• Price per unit: $259,000
• Cap rate: 4.5%
• Building size: 19,400 SF
• Lot size: 13,811 SF

Casey Weeks and Morgan Iannone represented the Seller in the transaction. Avison Young represented the Buyer.

A 32-unit rental apartment building in Burnaby’s Metrotown neighbourhood sold in May 2026 for $10,500,000.

Key Details:

• Sale Price: $10,500,000
• Price/Unit: $328,125
• Cap Rate: 4.8%
• Number of Units: 32
• Lot Size: 20,569 SF lot

The property at 5087 Irving Street is a three-storey, wood-frame apartment building constructed in 1969, situated on a 20,560 SF corner lot fronting both Irving Street and Newton Street in Burnaby’s Metrotown neighbourhood. The building contains 9 bachelor, 16 one-bedroom, and 7 two-bedroom suites averaging 629 SF, with one level of underground parking and 32 stalls. The net operating income at the time of sale was $500,528, reflecting a going-in yield of 4.77% on the purchase price.

The sale was brokered by Simon Lim, James Lang, and Jessica Hathaway of Colliers, who had marketed the property at an asking price of $12,800,000.

Beyond its income characteristics, the site carries significant redevelopment potential. Under Burnaby’s 2050 OCP draft, the property is designated High-Rise Apartment 1, permitting up to 30 storeys with the ability to increase to 40 storeys through density bonusing — a designation that attracted considerable developer interest during the marketing campaign. The property is within walking distance of both Metrotown and Royal Oak SkyTrain Stations on the Expo Line.

At $328,125 per unit, the sale sits modestly above the Burnaby apartment average tracked on this site, reflecting the transit proximity and redevelopment upside of the Metrotown location.

The property is located in Burnaby, on the north side of Irving Street between Marlborough Avenue and Royal Oak Avenue in the Metrotown neighbourhood.

A 14-suite apartment building in North Vancouver’s Lower Lonsdale neighbourhood has sold for $4,700,000, or $335,714 per unit, at a 4.0% cap rate.

Details:

• Sale price: $4,700,000
• Price/unit: $335,714
• Cap rate: 4.0%
• Units: 14 (10 two-bedroom, 4 one-bedroom)
• Lot size: 6,534 SF
• Year built: 1954
• Sale date: May 2026

Known as Stanita Court, the property is a three-storey-plus-penthouse wood-frame building constructed in 1954, situated on a 6,534 square foot lot with 50 feet of frontage on East 6th Street. The unit mix comprises 10 two-bedroom suites and 4 one-bedroom suites. The building includes four surface parking stalls and owner-operated shared laundry.

The property is zoned CD-316 and designated Residential Level 6 under the City of North Vancouver’s Official Community Plan, located in the Lower Lonsdale submarket.

The property was listed and sold by Goodman Commercial.