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New Listing- Muir House - 1014 W 11th Ave

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(Posted on Aug 24, 2016 at 04:35PM )
New Construction, Prime Location, Premier Tenants
For Sale - Muir House - 1014 W 11th Avenue 




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




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