- What A 35-unit complex in Kitsilano is up for grabs
- Why The property is in one of Vancouver’s most desirable neighbourhoods
- What next A buyer could assume $8.8m of debt on the property
An apartment complex in Vancouver’s Kitsilano neighbourhood has hit the market looking to grab $19.8m.
Goodman Commercial is marketing the 35-unit Yorkshire, at 2336 York Avenue. At the asking price, the valuation works out to roughly $566,000/unit. A buyer’s initial yield would be about 4%.
The complex has 26 one-bedroom units averaging 618 sq ft and renting for $2,300. Two one-bedroom penthouse suites averaging 546 sq ft rent for $2,700. There are six 468 sq ft studios starting at just over $2,000 and a single two-bedroom suite (854 sq ft) for $3,800.
Built in 1967, the apartments have 26 secured underground parking stalls and 15 stalls at street level.
Just 200 m from Kitsilano Beach, the complex is in one of Vancouver’s most desirable neighbourhoods. It is less than 1 km from the future Arbutus and Broadway SkyTrain station.
Marketing material say the buildings has been “impeccably maintained,” with upgrades including new appliances and counters.
A buyer could assume two loans worth $8.8m combined.
