Listings & Sales Activity   December 19, 2012

Carrera Management leads the way for socially conscious landlords

 It’s refreshing to have the opportunity to point out an honourable landlord/developer with good community ethics.  Carrera Management Corporation’s Nevin Sangha had a tough choice to make in 2011 when he purchased a 39-suite 3-storey wood frame apartment located at 577 East 8th Avenue in Vancouver.  Also known as Watson Manor, the building was condemned by the city with ¾ vacated and unliveable!

Tearing down the building and replacing it with market housing would have been the easy choice, especially if the exercise was to maximize return.  Sensitive to the needs of the community, Carrera decided the right approach for the project was to keep the units in the City’s much needed rental community.  Watson Manor has been restored back to its original glory and now looks and feels more like condos than rentals much to the delight of the new residents who snapped up the under market rentals within days of being released for rent.  

Originally born and raised in East Vancouver, Nevin also created 6 handicap accessible units for the property. Consultation on how to finish the units came from local societies who also helped fill the final few handicap accessible units.  Carrera refused to rent them out to the general public until they exhausted every opportunity to provide this service.  The original caretaker was kept on staff through the rebuild and continues to reside in the building.  

With all the bad press these days, it’s a nice change to have the opportunity to point out one of the many socially conscious landlords that we work with.



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Listings & Sales Activity   May 8, 2011

Goodman sells 11 storey concrete tower

Sold! Regency Tower - 706 Queens Avenue, New Westminster

Just sold an 11-storey concrete high-rise rental tower in New Westminster.  Total of 112 suites for a sale price of $14,975,000 and a 4.9% cap rate.  Good condition.  Purchased by local investor.

View complete sales details >>



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Listings & Sales Activity   January 22, 2009

16-Suite Apartment Building For Sale in Vancouver

16 Unit Apartment Building In Vancouver__

Totally renovated! Quadra Court is a wood frame 16 unit low-rise apartment building in superb condition centrally located in Vancouvers trendy Commercial Drive neighborhood. The property is situated on a corner lot (67x 122) in a quiet family oriented neighbourhood across from an elementary school. The completely upgraded suites, most of which have great views of Downtown, feature contemporary open design, refinished hardwood floors & new appliances. The entire building has undergone an extensive renovation program including suites and common areas. The subject property also features rear parking & an enclosed garage, storage lockers and a two bedroom penthouse with spectacular views from two roof top decks. In conclusion, Quadra Court is a turn-key building with no deferred maintenance and offers tenants easy access to local shops, restaurants and parks just one block away from Commercial Drive.

To view this listing, click here.

 



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