A 20-unit building at 35 East 16th Avenue in Mount Pleasant has traded in a $6,750,000 deal. Sale details include:
- $336,250 per unit
- 3.3% cap rate
The 2026 assessment value of the property is $6,172,000, down from a peak in 2023 of $7.3 Million.
A 20-unit building known as Capri Aparments and located at 520 North Nanaimo Street in the Grandview-Woodland area of East Vancouver has sold for $5,200,000 to New Chelsea Housing Society.
Details:
- 3-storey walkup built in 1969
- 12,319 SF site area
- 20 units (one bachelor, 18 one-bedrooms, one two-bedroom)
- 20 underground parking spaces
- $260,000 per unit
The building was sold by Dan Schulz and Chris Winkers of Macdonald Realty.
The 2026 assessment value of the property is $5,472,000.
Starlight has announced the acquisition of Villa Esto, an 83-unit, 10-storey concrete rental apartment building located at 1175 Haro Street in the West End of Downtown Vancouver.
Details of the transaction:
- Purchase Price: $33,100,000
- Price per Unit: $399,000
The property was listed and sold by Colliers VIDA team: https://www.collierscanada.com/en-ca/properties/sold-83-unit-rental-apartment-building-in-vancouvers-west-end/can-1175-haro-street-vancouver-bc/can2018225
Equiton Living has completed on the acquisition of Mountain Park Residences (formerly Oceana Court), a 117-unit lowrise apartment complex on a 2.7 acre site at 7070 Inlet Drive, at the base of Burnaby Mountain.
Details:
- Purchase Price: $46,625,000
- Cap Rate: 4.4%
- Price per unit: $390,000
- Year Built: 1967
The property was listed and sold by Cushman Wakefield: https://www.cwinvestmentproperties.com/listings/7070-inlet-drive-oceana-court-burnaby-bc-66/
Vertex Developments in partnership with Fastmark Development has submitted a rezoning application for a site at East 10th and Victoria Drive in East Vancouver.
The proposal is to allow for the development of a 26-storey rental tower, and includes:
- 250 units (10% of the floor area at below-market rates);
- a total density of 10.8 FSR;
- A building height of 266 ft.
This application is being considered under the Transit-Oriented Areas Rezoning Policy and the Grandview-Woodland Community Plan. The application notes that it exceeds the existing policies.
The architect for the project is dys Architecture.
The full application can be viewed here: https://www.shapeyourcity.ca/2611-victoria-dr