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New Rental Construction
Cambie Corridor
Vancouver

Apartment Building
82 Units
$25,950,000
New Rental Construction! A rare opportunity to acquire a 100% interest in a pre-construction five storey rental apartment building centrally located along the Cambie Corridor in Vancouver.  The building will be comprised of 82 suites and feature secure underground parking, security, in-suite storage, in-suite washer/dryers & dishwashers, enclosed balconies and elevator service.  The developer’s intention is to build on behalf of an investor according to the plans and specifications agreed to by all parties with completion approx. 16 months after construction commences.
  • The subject property is located in the Langara area of the Cambie Corridor Planning Program in Vancouver.
  • It is conveniently situated within easy walking distance from the Langara Station of the Canada Line to Downtown, YVR and Richmond (there is a proposed station for 57th and Cambie which is only a few blocks away), as well as to JW Sexsmith Elementary School, Sir Winston Churchill Secondary School, Langara Golf Course and Langara Community College.
  • Convenient transit access to shopping, services and entertainment at Oakridge Mall.  Other amenities in the area include a grocery store, drug store, coffee shop and other retail uses are being planned only a few blocks away.
  • Four storey wood frame building over one level of concrete
  • Suites will be furnished to a high quality standard and comparable to other new developments in the area
  • Balconies or patios for each suite       
  • In-suite storage/computer work area                 
  • In suite stacked washer/dryer & dishwasher                         
  • Elevator service                     
  • Secure underground parking for 60 cars (approx.)                       
  • Full security                   
  • Secure bike storage                   
  • Hardy board exterior/imitation brick
  • For details on the Cambie Corridor Plan, click here.
Financing
Treat as clear title.
Proforma
Gross Income
$1,466,836
Vacancy
(18,335)
Effective Gross
$1,448,504
Operating Expenses
(328,661)
Net Operating Income
$1,119,842
Notes
For a proforma income & expense statement, click here.
David Goodman
david@goodmanreport.com
604 714 4778
Mark Goodman
mark@goodmanreport.com
604 714 4790
HQ Commercial
320-1385 West 8th Ave. Vancouver, BC V6H 3V9
Fax: 604 608 9455
www.goodmanreport.com
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

Summary

Price$25,950,000
Units82
Stories5
Building Size55,940 sf
Net Rentable Area48,668 sf
Price/Unit$316,463
Cap Rate4.32%
GIM17.7
Year Built2013
Lot Size175.2' x 120' (21,024 sf)
ZoningRT-1 (proposed CD-1)

Suite Mix

No. UnitsSq. Ft. Range
Bachelor18462 - 520 
One Bedroom31504 - 540 
Two Bedroom33716 - 740 

Attachments

Proforma Income & Expense Statement (23.5 KB)
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