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$ 6,160,000

2285 TRIUMPH STREET, Vancouver, BC, V5L 1L2

Listing ID# C8014713
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$ 6,160,000

  • 2285 TRIUMPH STREET
    Grandview-Woodland, Vancouver, BC V5L 1L2
  • Listing ID C8014713
  • Primary Business Type: Multi-Family
  • Total Units: 16
  • Building Type: Commercial
  • Status: For Sale/Active
  • Days on Market: 159

Property Description

The Garden Manor Apartments is a fully leased 3-storey, 16 suite rental apartment building with underground parking located in East Van. The area surrounding the Property is undergoing a major transformation, attracting a new millennial tenant base, due to the addition of a variety of new craft brewery restaurants, shops, services & a variety of planned developments including; ???Ironworks??? an office/industrial/retail project on Pandora & Victoria Streets. The Garden Manor has received many recent capitol upgrades including: a full re-pipe, new sliders & windows, updated common areas, exterior paint, landscaping & full complete renovation of 11/16 suites. The offering provides a Cap Rate of 3.27% on the List Price with the ability to increase cash flow & yield by renovating the remaining 5 un-renovated suites & on turnover leasing them at market rents. This corner property also provides future development potential, which could provide for a building up to 6 storeys and a maximum 2.4 FSR.



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