KEY FEATURES
Highly coveted “North-of-Fourth” location two blocks from Kitsilano Beach
Impressive suite-mix featuring nine large 2-bedroom suites
Remarkable views enjoyed by top-floor tenants
Immersed within an abundance of natural and commercial amenities.
LOCATION
2225 West 1st Avenue is strategically located on the north side of West 1st Avenue, between Yew and Vine Streets in the Kitsilano neighbourhood of Vancouver. The subject property’s “North-of-Fourth” location places it within walking distance to Kitsilano’s world-renowned locational amenities, such as, Kitsilano Beach and Pool, the Cornwall Promenade, and an abundance of restaurants and retailers along West 4th Avenue.
Kitsilano is known as one of Vancouver’s most prestigious multi-residential districts, which has consistently enjoyed a near 0% vacancy rate and rapidly appreciating rental rates.
Renters flock to Kitsilano for stunning natural and commercial amenities all while enjoying an abundance of transit accessibility to UBC, Downtown Vancouver, and beyond.
Desirable location, sought-after amenities, and substantial upside combine to present an opportunity to acquire an irreplaceable Kitsilano apartment building.
PROPERTY SPECIFICATIONS
Total Site Area: 6,000 SF
Site Dimension: 50’ x 120’
Improvements: The property is improved with a two-storey plus basement wood-frame apartment complex
Property Taxes: $14,218,55 (2017)
Current Zoning: RM-4
Asking Price: $7,998,000
LEGAL DESCRIPTION
Civic Addresses: 2225 West 1st Avenue Vancouver BC
Legal Description: Lot 13, Block 203, District Lot526, Land District 36, Plan 848
PID: 015-097-293
COLLIERS INTERNATIONAL
IMPROVEMENTS
Built in 1912, the subject property is improved a two-storey plus basement wood-frame apartment building with a well-maintained stucco façade and oversized windows providing an abundance of natural light in each suite. The north-facing top floor tenants enjoy remarkable views of the Burrard Inlet and North Shore mountains.
The building features a highly desirable suite-mix of nine 2-bedrooms, two 1-bedrooms and one bachelor unit. All suites have spacious floorplans, a mix of hardwood and vinyl-plank flooring and some feature updated kitchens and bathrooms. The stairs at the rear of the building provide the majority of the north-facing suites access to either a large patio or deck with private entrances to each suite.
Tenants have access to a washing machine and a dryer, which are owned by the building and located on the ground floor of the building. The torched-on membrane roof was replaced in 2009 and a new 75-gallon Rheem Ruud Commercial hot water thank in was installed in 2014. A natural gas-fired boiler disperses heat from cast iron radiators and the main electrical is 200-amp,whereby, all units receive 100-amp service.
To find out more about this Investment Opportunity and to Private Tour of this site, please contact Han Lee at 778 789 9688.