- What A 35-unit rental building in Vancouver has been listed for $29.8m
- Why The building was completed last year
- What next Macdonald Commercial has the marketing assignment
A new 35-unit apartment building in east Vancouver has been floated for $29.8m, or $851/suite.
The recently finished 11,700 sq ft building at 1551 Grant Street is located in the Grandview-Woodlands neighbourhood.
Macdonald Commercial has the marketing assignment. The building was completed in 2024 by Rize Properties and Averra Developments.
Campaign materials note the property has assumable financing of a $19.6m loan on a five-year term at 3.75% interest with 50 years of amortization.
The building comprises 16 one-bedroom apartments with rents starting at $2,800, 11 two-bedroom apartments with rents starting at $3,200 and eight three-bedroom apartments with rents starting at $4,900.
Suites come with full-size washrooms, stainless steel appliances and quartz counters. They also have in-suite laundry and balconies or patios.
The building’s amenities include bike storage, underground parking and a rooftop terrace with views of downtown Vancouver.
It is near the city’s vibrant Commercial Drive neighbourhood with shopping and dining options.
