Interest Rates Low for Q3 in Vancouver, BC
commercial real estate blog vancouver bc, commercial real estate vancouver bc
Exclusive Multi-Family Offering: 12-Unit Oak Street Apartment Building in Vancouver
Tags:
(Posted on Aug 5, 2016 at 12:52PM by Michelle Bogle)
The Huntley Lodge presents investors and developers with a tremendous opportunity to secure a 6,250 square-foot lot currently possessing 12-units in one of the most sought-after locations in Canada.The property sits on Oak Street and is steps from the proposed Oak Street Station of the Broadway Rapid Transit Extension, breaking ground as early as 2019.Â
Â
As a pure rental play, the property possesses a highly desirable suite mix of one studio, eight 1-bedrooms and three 2-bedrooms with below market rents. Nearby hospital, law offices and professional services businesses draw top-tier tenants to potentially high-end renovated suites.Â
Â
The property currently rests in an RM-3, 1.0 FSR zoned territory with 6,250 square feet buildable on its 50' x 125' lot. This corner lot on the NE side of Oak Street and West 15th Avenue has the potential to be joined with the 50' x 125' lot to the East (985 15th Avenue), which creates one of the most prime development opportunities in the city with 125' of frontage on Oak Street and a 100' wide lot.Â
Â
A nearby project on a 100' x 125' lot at 2975 Oak Street and 14th Avenue in 2014 received a density bonus up to 2.8 FSR allowing the site to increase from a 3-storey, 14-unit building to an 11 storey, 50-unit tower through an HRA agreement. Adjoining the 985 15th Avenue site would create a 100' x 125' corner lot, grant a 1.9 FSR and have the potential for 2.8+ FSR in the future, nearby the proposed Broadway Rapid Transit Oak Street Station.
Â
The location of Huntley Lodge simply cannot be beaten! It is just minutes away from several major transit hubs, Queen Elizabeth Park, waterfront Olympic Village, Charleson Park, world-renowned Granville Island, Kitsilano's beaches and the downtown core.
This well-situated site presents investors with a phenomenal opportunity to secure this valuable land, potential development site and a safe income-generating rental property in one of the world's most desired cities. For full listing details, please click here.Â
This well-situated site presents investors with a phenomenal opportunity to secure this valuable land, potential development site and a safe income-generating rental property in one of the world's most desired cities. For full listing details, please click here.Â
Â
To book your private showing, please contact our Multi-Family Specialist, Charlie Hughes, in our Vancouver office at 604-675-5259.
Â
For other amazing commercial real estate investment opportunities across British Columbia, please visit Marcus & Millichap’s Property Search Directory for details.
Powered by Webstager