The Inverness Apartments located at 1325 Pendrell Street in the West End has sold for $5,170,000, or $246,224 per unit. The two-storey,  21-unit heritage style building was listed for sale back in May for $5,275,000, or a 3.5% cap rate.

A development application has been filed for 9 West Cordova (at the corner of Cordova and Carrall Street in Gastown, formerly home to Boneta) to rehabilitate the heritage building by converting 22 vacant SRA units into 8 self-contained residential market rental units that could also include office and artist studio uses on the 2nd and 3rd floors. The conversion of SRA units and heritage revitalization agreement was previously approved in 2008 after the plan was originally proposed in a slightly different form in 2007.  This time it appears that the owner, King Tiger Investments, is planning to proceed.

” [The Boulder Hotel]…started life as a 2-storey building in 1890, and later grew another at some point before 1910…. It was designed by the Fripp Brothers (Robert and Charles) for American tunnel builder turned real estate mogul A G Ferguson.” – Changing Vancouver

An 11-unit building at 2358 York Avenue has sold for $3,938,000, or $358,000 per unit / 2.6% cap rate. The realtor’s brochure describes the building as follows:

“…a well maintained three storey plus penthouse apartment building located in Vancouver’s extremely popular Kitsilano neighbourhood. Only one block south of Kits Beach, the property features 11 suites including 2 penthouse units with sweeping views of English Bay and the North Shore Mountains.  Ideal for owner-occupier.  Rents significantly below market.”

The building had been listed for sale for $4,000,000.