Mayan Apartments, a 16-unit apartment building at West 3rd and Maple Street in Kits, has sold for $4,275,000, or a 3.9% cap rate and $267,000 per unit. The building had been listed for sale for $4,785,000.
PWC’s annual Emerging Trends in Real Estate 2014 report was released this week. The annual report surveys industry professionals and rates Canada’s nine largest commercial real estate markets on prospects for investment, development and homebuilding.
This year the survey placed Vancouver fourth, just slightly behind Saskatoon, and behind the energy-driven markets of Calgary and Edmonton; in first and second respectively.
Perhaps not surprisingly, respondents placed Vancouver firmly in buy/hold territory for most asset classes in 2014. Here are a couple of examples:
Apartment Buy/Sell/Hold Recommendations
Office Buy/Sell/Hold Recommendations
Download the full report here: http://www.pwc.com/ca/en/real-estate/emerging-trends-real-estate-canadian-summary.jhtml
Be the first to take advantage of the new West End Community Plan!
1546 Nelson Street is an ideally located 6-unit apartment building that offers a stable and secure return for an investor or an owner-occupier. The rear portion of the property is now permitted for additional laneway residential space as part of the laneway housing policies in the forthcoming West End Community Plan. The asking price is $2,050,000.
-
- Front view
-
- Rear Lane View
-
- Potential Laneway Housing
-
- Nelson Street
-
- Neighbouring Properties on Cardero including Coffee shop
-
- Interior Kitchen
-
- Interior
Brochure: 1546 Nelson Brochure
Contact me for further info: david.taylor@colliers.com
The Wenonah Building, a heritage apartment building at East 11th Ave and Main Street has sold for $6,500,000 or $342,000 per unit. The building, built in 1913, also contains some retail on the ground floor. The lot size is 8,480 SF.
A revised rezoning application has been presented for Westbank and Ivanhoe Cambridge’s plan to rezone and redevelop the 28-acre Oakridge Centre property. This is expected to be the last round of formal open houses for the rezoning before the proposal heads to the Urban Design Panel and then on to Public Hearing.
Proposed changes from 2012 version:
- Oakridge Height Changes
-
- Aerial View Looking North
-
- Entrance Promenade (41st and Cambie)
-
- Centre Court
-
- Looking west along West 41st Ave
-
- Oakridge Community Commons View
Exclusive:
Brookfield has flipped the Shangri-La Vancouver (now Hyatt) retail podium to Aquilini Group for $55 million. Brookfield bought the property last summer.
Full story:
https://howardchai.substack.com/p/shangri-la-vancouver-hyatt-retail-brookfield-aquilini
12-unit Gleneagles townhouse project proposed in West Vancouver
A new proposal has surfaced for the parking lot next to Waterfront Station.
The redesigned project includes a 26-storey, 416,000 SF office tower, shaped like a tree, cantilevered over the existing station building.
Architect: James Cheng
Details: https://bit.ly/46aUB0W