- What Park Vista in Vancouver’s West End has been sold
- Why The building sold for $2.5m under the asking price
- What next The property’s net operating income was more than $650,000 last year
A 41-unit rental tower in Vancouver’s West End changed hands for $18.5m over the holidays.
The 12-storey Park Vista, at 2060 Comox Street was listed for $21m but traded for about $512,000/unit at a 3.2% capitalization rate.
Goodman Commercial had the marketing assignment.
Built in 1965, the building has 16 bachelor suites renting at $1,680, 19 one-bedroom units at $1,900, two bachelor-plus-den suites for $1,300 and four one-bedroom penthouse suites for $2,500.
The building’s net operating income is $670,000 per year.
Recent upgrades include a new hot water tank and security camera system. The roof was replaced within the last five years, and the exterior was painted and repaired in 2024. There are car-charging stations in the building’s upper parking level.
In Vancouver’s dense and vibrant West End, Park Vista is close to Stanley Park and English Bay Beach.
