Deal StatusUnder Contract
136 East 18th Street
North Vancouver, BC
# of Units29
Lot Size15,823 SQFT
PricePlease Contact Listing Agents
Cushman & Wakefield ULC is pleased to present this rare opportunity to acquire a prime North Vancouver apartment building. The Caprice is located in the trendy and highly desirable Central Lonsdale corridor, which is one of Metro Vancouver’s most attractive rental neighbourhoods. The Caprice is situated on a rectangular, 15,823 sq. ft. R5 designated lot. It is currently improved with 29 residential units and is professionally managed.
- Future multifamily development designation with added density
- Strong holding income with attractive upside
- Asset rehabilitation and value-add opportunity
- 15,823 SF rectangular lot
- Extremely low vacancy rate: 0.40%
- Premier location near an abundance of amenities along Lonsdale corridor
Central Lonsdale Location
A lively and dynamic mixed-use neighbourhood.
Just 20 minutes from downtown Vancouver.
Central Lonsdale is a rapidly growing mixed-use hub that has attracted the attention of major employers and many residential developers.
The immediate area features favorable rental demographics, vibrant retail off erings, as well as close proximity to Lions Gate Hospital, Capilano University, City Hall, The Harry Jerome Recreation and Community Centre, several parks and main transit lines.
Future Redevelopment Potential
Superb location perched a half block from Lonsdale Avenue which will off er world class view corridors of downtown Vancouver’s skyline, the Burrard Inlet, and the North Shore mountains.
The Property is designated in the City of North Vancouver’s Offi cial Community Plan (“OCP”) as Residential Level-5 (Mid-Rise Apartment – Medium Density), allowing for a residential apartment development to a maximum 2.60 Floor Space Ratio (“FSR”). The R5 land use designation prescribes a six (6) storey height cap.
Development area of approximately 15,823 sq. ft. would yield a gross site area of over 40,000 sq. ft. after rezoning to the OCP prescribed density.
I received a realistic appraisal and game plan for sale of my apartment property. I really appreciated their assessment and screening of potential buyers, so we did not waste time with triflers. Their communications were prompt and to the point. We sold the property during the time of COVID.
Together they are a great team. David brings energy, enthusiasm, and clarity. Don has the value added of knowing the long- term history of local buildings and apartment owners. Together they know how to get things done.