I am pleased to have acted on behalf of the Vendor and Purchaser in the sale of this West End apartment building with laneway housing potential.
Contact me if you’d like to learn more about what’s selling in the West End and about what the new West End Community Plan means for existing apartment properties.
The owners of an papartment building on Oak have applied for a development application to redevelop an existing apartment property they own at 2975 Oak Street (at West 14th). The proposal is permitted under the existing RM-3A zoning, but required City approval. The plan includes:
Bogner Development Group is proposing to rezone a former Church site on West Boulevard (2095 West 43rd Avenue) from RM-3A to CD-1 to allow a 6-storey rental apartment building under the Rental 100 program that includes:
Read more: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/2095w43rd/index.htm
The owners of the former Blockbuster Video property at 3195 Oak Street are proposing to rezone it from C-2 to CD-1 District. The proposal is to rezone the property under the Rental 100 program for a 6-storey mixed-use building that includes:
More information here: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/3195oak/index.htm
A portfolio of five apartment buildings that was offered for sale in 2013 has sold to a private investor from China, now based in Vancouver. The 5-building, 193 unit portfolio of buildings in the West End and North Vancouver sold at a blended average cap rate of approx. 3.75%.
The largest and most prominent building among the five assets, is Pacific Beach Apartments, a 56-unit concrete highrise located at Jervis and Beach Avenue. The building sold for $15,200,000, representing $272,000 per unit.