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Harvard Apartments 1240 St Georges St 32 Unit Apartment Building For Sale North Vancouver, BC V7L 3J1
INVESTMENT HIGHLIGHTS
- Close proximity to attractions and shopping including the Lonsdale Quay, Shipyards District, Museum of North Vancouver (MONOVA), Waterfront Park.
- Comprehensive suite renovation program undertaken as units turnover with 13 units completed to-date.
- Many green spaces surround the property including Ray Perrault Park, Grand Boulevard Park, Victoria Park.
- A walk or short cycle to the Seabus which connects the North Shore to downtown Vancouver.
- Walkable retail including Tim Hortons, Starbucks, Nando’s, Whole Foods, Scotiabank, TD Bank, Fitness World, Blueshore Financial and numerous others.
- Short drive to get on the Trans Canada Highway which provides efficient transport around the Lower Mainland.
EXECUTIVE SUMMARY
Harvard Apartments represents one of the highest quality assets of its vintage. The building has benefited from a proactive approach to property management, with upwards of $2,000,000 in upgrades resulting in a high-quality asset and reflecting significant pride of ownership. Along with renovations to common areas and many suites, upgrades represent a multitude of capital expenditures including elevator modernization, plumbing, fire/life safety, and paving. The Property also contains a high ratio of desirable one and two-bedroom units with balconies. Current average rents are 31% below market providing an ongoing opportunity for revenue enhancement as units turnover. The property is fully occupied and projected to provide a potential gross revenue of over $700,000 this year (2025).
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.41 AC |
| No. Units | 32 | Building Size | 21,721 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Low-Rise | Parking Ratio | 1.1/1,000 SF |
| Building Class | C | ||
| Zoning | RM-1 - Medium Density Residential | ||
| Sale Type | Investment |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 21,721 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | RM-1 - Medium Density Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
| Studios | 10 | - | - |
| 2+1 | 8 | - | - |
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Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (85)
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Harvard Apartments | 1240 St Georges St
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