Charlie Hughes specializes in representing sellers and buyers of multifamily property exclusively within the city of Vancouver a
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Showing posts for tag #VancouverRealEstate #MultiFamily #MultiFamilyInvestments #CommercialRealEstate #RealEstate (Back to Index)
Showing posts for tag #VancouverRealEstate #MultiFamily #MultiFamilyInvestments #CommercialRealEstate #RealEstate (Back to Index)
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New Construction, Prime Location, Premier Tenants
For Sale - Muir House - 1014 W 11th AvenueÂ
Investors have a rare opportunity to secure one of Vancouver's trophy assets which finished construction just months ago. The Muir House and the brand-new contemporary building at the South end of the lot were built with premier construction materials and possess luxury finishes which drive staggering, record-setting rents in a world-class neighborhood near downtown Vancouver. This absolutely stunning 11-unit multifamily property rests next door to Vancouver General Hospital, Broadway's cuisine, Granville's high-fashion shops, and is steps from the proposed Oak Street Rapid Transit Skytrain Station, beaches, and parks. The city's arguably strongest tenant pool surrounds the property and has resulted in hand-picked doctors and lawyers making up 1014 West 11th Avenue's rent roll. Deep stacks of tenant applications were received by the owner prior to the building’s completion, demonstrating the tremendous demand for this truly one-of-a-kind property.
The Muir House is one of Vancouver's safest assets which drives nearly a quarter of a million dollars in net operating income annually and requires next-to-no maintenance with its brand new construction. The Muir House is home to 11 hand-picked professional tenants on 1-year leases and has various competitive advantages including being next door to a premier employer in Vancouver General Hospital, steps to Broadway, beaches, parks, and surrounded by great restaurants. Its location in the midst of a bustling area 2 blocks from the proposed Oak Street Rapid Transit Skytrain Station will see new development and land appreciation for decades.
The finest care was put into the property during construction and leaves an investor with a turn-key asset where capital expenditures won’t be needed for decades, maintenance costs will remain next to nothing for 15+ years, and headaches will be avoided because of the premier professional tenants in place. The future is bright for the next owner of the Muir House with its premier location, irreplaceable crosswalk proximity to Vancouver General Hospital, bullet-proof, premium construction, stunning architecture, and amazing tenant mix.
 
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Email Charlie Hughes at charlie.hughes@marcusmillichap.com or call Charlie directly at 604-675-5259 to receive a full information package PDF on the Muir House.
-Charlie Hughes
Multifamily Broker
Marcus & Millichap
For Sale - Muir House - 1014 W 11th AvenueÂ
Investors have a rare opportunity to secure one of Vancouver's trophy assets which finished construction just months ago. The Muir House and the brand-new contemporary building at the South end of the lot were built with premier construction materials and possess luxury finishes which drive staggering, record-setting rents in a world-class neighborhood near downtown Vancouver. This absolutely stunning 11-unit multifamily property rests next door to Vancouver General Hospital, Broadway's cuisine, Granville's high-fashion shops, and is steps from the proposed Oak Street Rapid Transit Skytrain Station, beaches, and parks. The city's arguably strongest tenant pool surrounds the property and has resulted in hand-picked doctors and lawyers making up 1014 West 11th Avenue's rent roll. Deep stacks of tenant applications were received by the owner prior to the building’s completion, demonstrating the tremendous demand for this truly one-of-a-kind property.
The Muir House is one of Vancouver's safest assets which drives nearly a quarter of a million dollars in net operating income annually and requires next-to-no maintenance with its brand new construction. The Muir House is home to 11 hand-picked professional tenants on 1-year leases and has various competitive advantages including being next door to a premier employer in Vancouver General Hospital, steps to Broadway, beaches, parks, and surrounded by great restaurants. Its location in the midst of a bustling area 2 blocks from the proposed Oak Street Rapid Transit Skytrain Station will see new development and land appreciation for decades.
The finest care was put into the property during construction and leaves an investor with a turn-key asset where capital expenditures won’t be needed for decades, maintenance costs will remain next to nothing for 15+ years, and headaches will be avoided because of the premier professional tenants in place. The future is bright for the next owner of the Muir House with its premier location, irreplaceable crosswalk proximity to Vancouver General Hospital, bullet-proof, premium construction, stunning architecture, and amazing tenant mix.
  Email Charlie Hughes at charlie.hughes@marcusmillichap.com or call Charlie directly at 604-675-5259 to receive a full information package PDF on the Muir House.
-Charlie Hughes
Multifamily Broker
Marcus & Millichap
Vancouver Rental Demand Booming
North America Low Vacancy & Slow to Catch Up Supply Drive Skyrocketing Values in Beautiful Oceanside City
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Vancouver is receiving well-deserved worldwide recognition as global investors flock to the oceanside, mountain-view properties this beautiful city has to offer. As renters scramble to secure space and landlords flip through their deep stacks of wait-listed tenant applications, Vancouver's real estate investors are seeing once in a lifetime gains in property values and prices per unit.
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Landlords are finding significant purchasing power as rent growth, over the last few years, has exceeded both wage growth and CPI growth for the first time in the last quarter century. Rent growth and strong tenant demand is driven by steady immigration flows, above average interprovincial flows, nation-leading employment growth, decades long stagnant supply, and the infeasibility for most locals to purchase a home. BC’s employment growth was up 3.6% YOY for May 2016, leading the country, and driven by solid retail sales, consistently growing healthcare, and a burgeoning tech industry which is rapidly growing at twice the pace of the rest of the BC economy.
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Buyers are taking advantage of historically low interest rates as well as a weakened Canadian dollar which has only dropped this low twice in the last 50 years (1968 and 2002). Local investors and foreigners are also capitalizing on recently released Official Community Plans which have allowed increased densities, maximum building heights, and re-zonings in specific areas. Owners of multi-family real estate in the city of Vancouver, ranked top in North America and top 5 worldwide for quality of life, are able to realize tremendous gains divesting to local and global players seeking to secure safe, secure investments in this spectacular city.
Charlie Hughes
Multi-Family Investment Broker
Marcus & Millichap
Want to stay informed of market cycles, impactful news, receive ongoing property valuations, and learn how Marcus & Millichap can work closely with you to maximize the value of your real estate portfolio?
Email: charlie.hughes@marcusmillichap.com -OR-
Call: Charlie Hughes directly at 604-675-5259
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