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We invite you to invest in the City of Vancouver, the jewel of the Pacific Coast.
David Venance ∙ Personal Real Estate Corporation ∙ 604.264.5752 ∙ [email protected]
Ray Townsend ∙ 604.267.2455 ∙ [email protected]
LOCATION
Enviable location in one of Vancouver’s most established and desirable neighbourhoods only three blocks from the waterfront and six blocks from iconic Stanley Park. Only minutes away from downtown Vancouver’s central business district.
The Property has an exceptional walk score of 93 due to the many commercial amenities, restaurants, and essential services along Davie Street including Safeway, London Drugs, Starbucks, TD Bank, and BC Liquor Store. Robson, Alberni, and Denman Streets are all only blocks away and offer world class shopping.
Vancouver’s West End has an estimated population of 45,000 residents, and is considered to be the region’s most densely populated neighbourhood.
Nearby new developments include “The Laurel” by Westbank located at 1051 Broughton, The “Alexandra” by Concord Pacific located at 1221 Bidwell Street, and 1125 Denman Street by Wesgroup.
Civic Address 1186 Nicola Street, Vancouver, BC
Street Address 1485 Davie Street, Vancouver, BC
Neighbourhood West End
Property Identifiers 005-410-401/005-410-436/005-410-444
Zoning RM-5 Multiple Family Dwelling
OCP West End Vancouver Community Plan, Lower Davie
Maximum Density Potential 7.0 FSR
Lot Size 25,918 square feet
Year Built 1946
Net Operating Income $542,000
Financing Available Clear Title
Price $35,000,000
PARTICULARS
PROPERTY PROFILE
Ç The Property is approximately a 26,000 square foot rectangular shaped lot which slopes to the west. It corners the arterial Davie Street and Nicola Street in Vancouver’s West End.
Ç Frontage along Davie Street spans 198 feet, and frontage along Nicola Street is 131 feet.
Ç Currently zoned as RM-5; however the recently adopted West End OCP designates the area as high density for residential mixed use.
TENANCY & INCOME
Ç The apartment building is fully occupied and typically does not foster vacancy upon tenant turnover given the high demand for housing in the neighbourhood.
Ç The Property provides a current annual Net Operating Income of approximately $542,000 per annum, providing a steady and secure income stream while the investor takes it through rezoning and awaits the optimal time for redevelopment.
VERY RARE OPPORTUNITY
Residential land is the most sought-after commercial real estate investment in British Columbia, and Vancouver’s West End is one of Vancouver’s most established and sought after residential neighbourhoods. 1485 Davie Street represents the very rare opportunity to acquire 100% freehold interest in over a ½ acre of residential land in the heart of the West End, and improved with a 51-unit apartment building, providing secure and stable holding income to investors.
The prominent location in the core of Vancouver, with proximity to the water, Stanley Park, and the Central Business District are only a few of the attributes that will make 1485 Davie Street the ideal position to eventually take advantage of the increased density provided by the West End Community Plan and be home to another one of Vancouver’s premier and world-class residential developments.
Rendering showing potential 30 year build out of the community. Light grey buildings includethose under construction or in the approval process, blue buildings illustrate plan development estimate.
THE OFFERING
• Extremely rare opportunity to acquire exceptionally located real estate in one of Vancouver’s most beautiful and sought after neighbourhoods.
• High profile corner property with significant frontage on Davie Street and Nicola Street. Property is situated on approximately 26,000 square feet of land designated as residential high density redevelopment that would lend itself to unprecedented ocean and mountain views.
• Steady and secure holding income.
• 100% Freehold Interest
David Venance PREC604.264.5752 ∙ [email protected]
Ray Townsend604.267.2455 ∙ [email protected]
Each office independently owned and operated. This communicationn is not intended to cause or induce breach of an existing agency agreement.
David Venance | Ray Townsend | Bill Goold | Patrick McEvay | James Blair | Margaret Zheng
RE/MAX Bill Goold Realty ∙ #410 North Tower, 650 West 41st Avenue ∙ Vancouver, BC ∙ Canada ∙ billgooldrealty.com