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Kitsilano Investment with Development Potential

1955 Trafalgar St, Vancouver, BC V6K 1P8, Canada

10,899 SF

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  • Description
  • Details
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Description

Lee & Associates Vancouver is pleased to present the opportunity to acquire The Kits Manor, 1955 Trafalgar Street (the “Property”), a mixed-use C-2 zoned property located in the heart of Vancouver’s Kitsilano neighbourhood. The Property offers exceptional development potential with spectacular views of the North Shore mountains and English Bay. Strong holding income allows potential investors or developers to minimize overall carrying costs while providing rental upside on lease renewal/turnover.

Location Overview

The Property is strategically located on the northwest corner of West 4th Avenue and Trafalgar Street in the highly sought-after Kitsilano neighbourhood of Vancouver. 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. Residents flock to Kitsilano for stunning natural and commercial amenities all while enjoying an abundance of transit options to UBC, Downtown Vancouver, and beyond. The desirable location, sought-after amenities, and substantial development upside combine to present an opportunity to acquire an excellent Kitsilano asset.

Investment Highlights

  • High profile corner location with development potential for a mid-rise project with spectacular ocean and mountain views;
  • Limited supply of new and upcoming condominium projects in the Kitsilano area reduces future market risk;
  • Exceptional holding income with upside;
  • Strategically located two blocks east of MacDonald Street and West 4th Avenue, at which H.Y. Louie Co. and Wesgroup have purchased the northwest and northeast corners for large scale development projects, which will create a new mixed-use hub in western Kitsilano;
  • Commercial rent escalation over the next five years;
  • 0% vacancy for the Property over the last 24 months.

Building Highlights

  • Concrete podium with 2nd and 3rd floor wood frame townhomes;
  • Large interior courtyard with landscaping;
  • Enclosed parkade with 13 secured stalls;
  • Building built in 1983 with full upgrade in 2009 including entirely new façade and updated suites;
  • 12 efficient townhomes (2 bedroom, 1 bath) with below market rents;
  • Commercial unit (Dark Table Restaurant) with fully net lease and demolition clause in place.

Property Documents

Detail

Updated on July 12, 2018 at 4:09 pm

  • Property Size: 10,899 SF
  • Land Area: 8522 SF
  • Year Built: 1983
  • Property Type: Multi-Family, Retail, Investment, Development
  • Property Status: For Sale
  • Address: 1955 Trafalgar St
  • City: Vancouver
  • Province: British Columbia
  • Postal Code: V6K 1P8
  • Neighborhood: Kitsilano
  • Country: Canada