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1742 Pendrell St
Vancouver, BC V6G 1T1
Aldon Apartments · Multifamily Property For Sale
·
23 Units
Investment Highlights
- Positioned steps from English Bay and the Seawall, offering unmatched access to recreation and amenities.
- Seven units currently vacant, enabling immediate renovation and lease-up strategy.
- Situated within walking distance of Denman Street retail, dining, and essential services.
- 23 one-bedroom rental suites within a well-established residential area.
- Significant upside in rental revenue through targeted upgrades and modern finishes.
- Located in a high-demand neighborhood with demonstrated long-term rental stability.
Executive Summary
Aldon Apartments presents a compelling acquisition opportunity in Vancouver’s sought-after West End neighborhood. Positioned on an 8,646 square-foot lot with 66 feet of frontage and 131 feet of depth, this 23-unit rental apartment building offers a rare value-add investment proposition. Approximately 30% of the building is currently vacant, providing immediate renovation potential and upside through modernization and active lease-up.
The property holds significant appeal for investors seeking to capitalize on one of Vancouver’s most established and resilient rental submarkets. Current rents remain below market levels, creating clear potential for income growth post-renovation. The surrounding area boasts proximity to the English Bay Seawall, Stanley Park, and popular retail and dining destinations along Denman Street, catering to a diverse tenant demographic.
With a structure of wood-frame construction across three storeys, covered and uncovered parking, and recent environmental and building condition reports available, Aldon Apartments allows discerning investors to execute a strategic repositioning project in a stable, high-demand urban environment.
The property holds significant appeal for investors seeking to capitalize on one of Vancouver’s most established and resilient rental submarkets. Current rents remain below market levels, creating clear potential for income growth post-renovation. The surrounding area boasts proximity to the English Bay Seawall, Stanley Park, and popular retail and dining destinations along Denman Street, catering to a diverse tenant demographic.
With a structure of wood-frame construction across three storeys, covered and uncovered parking, and recent environmental and building condition reports available, Aldon Apartments allows discerning investors to execute a strategic repositioning project in a stable, high-demand urban environment.
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 0.20 AC |
| No. Units | 23 | Building Size | 12,488 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1956 |
| Apartment Style | Low-Rise | Parking Ratio | 0.88/1,000 SF |
| Building Class | C | ||
| Zoning | RM-5A - Multiple Family Dwelling | ||
| Sale Type | Investment |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 12,488 SF |
| No. Stories | 3 |
| Year Built | 1956 |
| Parking Ratio | 0.88/1,000 SF |
| Zoning | RM-5A - Multiple Family Dwelling |
Amenities
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 23 | - | 400 - 625 |
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