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1696 11th Ave W 20 Unit Apartment Building $5,800,000 CAD ($290,000 CAD/Unit) 4.54% Cap Rate Vancouver, BC V6J 2B9
INVESTMENT HIGHLIGHTS
- Timeless Character & Irreplaceable Location
- Secure & Stable Cashflow
- Diversified Suite Mix
- Future Redevelopment Potential
EXECUTIVE SUMMARY
Historic one-of-a-kind multifamily property in the heart of Vancouver’s coveted South Granville neighbourhood. The McEvay Blair Multifamily Group of Marcus & Millichap is proud to present a rare and unique opportunity to own a piece of Vancouver’s history in the Penrhyn Lodge (the “Property”). Having been built early in the 20th century, the Property exudes timeless character and charm, showcased by vintage stained glass windows, coffered ceilings, and original hardwood fir floors. The building has, however, undergone many updates over the years, and in its current form features 20 rental units ranging from micro units that share a communal washroom, to self-contained bachelor suites, one bedroom lofts, and a grand two bedroom unit. There are also two coach houses off the laneway. Nestled in the heart of Vancouver’s coveted South Granville neighbourhood the Property is surrounded by world class dining and shopping. The future South Granville Broadway Subway Station will be a short 9 minute walk for tenants commuting to UBC and downtown. Penrhyn Lodge offers investors secure and stable cash-flow with continued rent growth underpinned by future redevelopment potential under the Broadway Plan.
PROPERTY FACTS
| Price | $5,800,000 CAD | Property Subtype | Apartment |
| Price Per Unit | $290,000 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.54% | Lot Size | 0.14 AC |
| Gross Rent Multiplier | 17.54 | Building Size | 9,473 SF |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1912 |
| Zoning | R5-4 - Residential | ||
| Price | $5,800,000 CAD |
| Price Per Unit | $290,000 CAD |
| Sale Type | Investment |
| Cap Rate | 4.54% |
| Gross Rent Multiplier | 17.54 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 9,473 SF |
| No. Stories | 2 |
| Year Built | 1912 |
| Zoning | R5-4 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 11 | - | - |
| 1+1 | 8 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (74)
Bike Score®
Biker's Paradise (97)
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1696 11th Ave W
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