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2464 W 1st Ave 11 Unit Apartment Building $5,238,000 CAD ($476,182 CAD/Unit) 4.07% Cap Rate Vancouver, BC V6K 1G6
INVESTMENT HIGHLIGHTS
- Just two blocks from Kits Beach and pool, offering tenants easy access to Vancouver’s most iconic waterfront and vibrant neighborhood amenities.
- Five units and the penthouse are currently vacant, giving you the flexibility to select tenants at current market rates and optimize rental income.
- Units feature newer cabinets, double-glazed vinyl windows (2012), hardwood floors, modern fixtures, balconies, and 4 parking spaces off the back lane.
- Upper units and the one-bedroom penthouse with private deck boast stunning panoramic views, plus a shared rooftop deck for tenants to enjoy.
- Projected 4%+ CAP rate, minimal ongoing expenses, and a well-maintained building with recent upgrades:
EXECUTIVE SUMMARY
Kits beach 11 unit walkup apartment building including penthouse, only 2 blocks from from kits beach and pool. Panoramic views from the upper units and penthouse. 5 units and penthouse are presently untenanted allowing you to choose your own tenants at current market rents. Potential 4%+ CAP rate. This location is extremely desirable to renters and the ongoing expenses to you will be minimal. Well maintained. Units boast newer cabinets, double glazed vinyl windows (2012), with blinds, hardwood floors, modern fixtures and balconies. 4 parking spaces off the back lane. Boiler replaced in 2010, roof 2012, exterior paint 2023. part of the roof is a shared deck for the tenants. some of the units come furnished. One bedroom penthouse with private deck (vacant), one bedroom with large den (vacant), three one bedrooms (vacant), and six one bedrooms rented. Earn a decent return now with huge potential in the future.
PROPERTY FACTS
| Price | $5,238,000 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $476,182 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.07% | Building Size | 7,900 SF |
| Sale Condition | Furniture, Fixtures and Equipment Included | Average Occupancy | 82% |
| Gross Rent Multiplier | 22 | No. Stories | 4 |
| No. Units | 11 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 0.51/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-4 - Multiple Dwelling District | ||
| Price | $5,238,000 CAD |
| Price Per Unit | $476,182 CAD |
| Sale Type | Investment |
| Cap Rate | 4.07% |
| Sale Condition | Furniture, Fixtures and Equipment Included |
| Gross Rent Multiplier | 22 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 7,900 SF |
| Average Occupancy | 82% |
| No. Stories | 4 |
| Year Built | 1958 |
| Parking Ratio | 0.51/1,000 SF |
| Zoning | RM-4 - Multiple Dwelling District |
AMENITIES
UNIT AMENITIES
- Balcony
- Storage Space
- Hardwood Floors
SITE AMENITIES
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | - | 600 |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (83)
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2464 W 1st Ave
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