Lonsdale Apartments | 2525 Lonsdale Av
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Lonsdale Apartments 2525 Lonsdale Av
25 Unit Apartment Building $8,995,000 CAD ($359,800 CAD/Unit) North Vancouver, BC V7N 3H7
Investment Highlights
- 25 Suite apartment building (includes a 2- bed penthouse suite)
- Ideal holding property with excellent future redevelopment potential
- Many capital items have been updated minimizing future expenditures
- Premier location, just steps to an abundance of tenant friendly amenities
- Good holding income with significant rental upside on turnover
Executive Summary
The CBRE National Apartment Group - BC is pleased to present the opportunity to acquire the 100% freehold interest in the Lonsdale Apartments located at 2525 Lonsdale Avenue in the City of North Vancouver, BC. The property is centrally located near Highway 1 with direct frontage and exposure onto Lonsdale Avenue providing convenient access to both the Second Narrows and Lions Gate Bridges and is in close proximity to an excellent cross section of tenant friendly amenities. The Lonsdale Apartments is currently improved with a 25-suite rental apartment building that is inclusive of a 2-bedroom Penthouse suite with a large rooftop deck with views toward the North Shore mountains and Downtown Vancouver. The subject property has enjoyed a number of capital upgrades in recent years to the major building components including; the roof, boilers, windows just to name a few and as a result is in a good overall state of repair. This offering presents and ideal opportunity for an investor or developer to acquire a well-located rental property that they can hold for a few years with the future plan of redeveloping the site that may consist of a new purpose-built rental building up to 6-storeys and approximately 50 plus units based on the City of North Vancouver’s Land-Use designation for the area.
Property Facts Under Contract
| Price | $8,995,000 CAD | Building Class | C |
| Price Per Unit | $359,800 CAD | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 14,888 SF |
| No. Units | 25 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Apartment Style | Low Rise |
| Price | $8,995,000 CAD |
| Price Per Unit | $359,800 CAD |
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 14,888 SF |
| No. Stories | 3 |
| Year Built | 1948 |
| Parking Ratio | 0.87/1,000 SF |
Unit Amenities
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Fenced Lot
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 25 | - | - |
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Walk Score ®
Very Walkable (88)
Bike Score ®
Very Bikeable (75)
zoning
| Zoning Code | RM-1 (Residential Level 5) |
| RM-1 (Residential Level 5) |
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Lonsdale Apartments | 2525 Lonsdale Av
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