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Invest / Development Project in Kitsilano, Vancouver - $11,880,000


DESCRIPTION

Here is an opportunity to invest in one of the most sought after neighbourhoods in Canada.

With potential to develop a 4 storeys mixed use Commercial on the ground level and Residential apartments on the top 3 floors with roof top access for the penthouse units.

This property is located at the corner of Alma Street and 5th Avenue in Kitsilano area, 7 minute drive to UBC and 15 minutes drive to Downtown Vancouver.

The current zoning of the property is C2 which allows a FSR (Floor Space Ratio) of 2.5.

9,604 SqFt of total land size allows a total of 24,010 SqFt buildable.

The property is currently generating approximately $25,000 per month in rental income with POTENTIAL to INCREASE even More.

DEVELOPMENT POTENTIAL

  • 4 storeys mixed use if developed as Commercial and Residential

  • 6 storeys if developed as a Rental Property

  • 9 to 22 Residential Units

  • 2 to 3 Commercial Retails Units

  • 18 to 32 Parking Spots

  • Land: 9,604 sq. ft. / Corner lot (120 ft.* 80 ft.)

  • Buildable : 24,010 sq. ft.

  • Zoning: C2 FSR: 2.5

  • Price: $11,880,000

COMPARABLE STUDY

Single family homes are selling in an average of more than $3 Million in Kitsilano area.

Located just steps away from Point Grey, Canada's most expensive neighbourhood, Royal Yacht Club and Jericho Tennis Club makes this project desirable to many families who are downsizing but would like to stay in this great neighbourhood.

To see the list of similar projects and properties recently sold refer to the following table:

LEGAL DESCRIPTION

Civic Addresses: 2050 Alma Street, Vancouver, B.C.

Legal Description: PID: 011-276-126LOT D OF LOTS 13 AND 14 BLOCK 27 DISTRICT LOT 540 PLAN 4872

Civic Addresses: 2060 Alma Street, Vancouver, B.C.

Legal Description: PID: 011-276-118LOT C OF LOTS 13 AND 14 BLOCK 27 DISTRICT LOT 540 PLAN 4872

Civic Addresses: 3675 West 5th Avenue, Vancouver, B.C.

Legal Description: PID: 011-276-100LOT B OF LOTS 13 AND 14 BLOCK 27 DISTRICT LOT 540 PLAN 4872

LOCATION

Located in Kitsilano neighbourhood, one the most luxurious and sought after neighbourhood in Canada, near many Shops and Restaurants opposite Jericho Village and within walking distance to Jericho beach, Jericho Park, Royal Vancouver Yacht Club, Jericho Tennis Club, 7 minutes drive to UBC and 15 minutes drive to Downtown Vancouver.

To find out more about this Investment Opportunity and the FEASIBILITY STUDY of this project, please contact Han Lee at 778 789 9688.

#Investment #SOLD #VancouverHouse #Commercial