Property Overview

  • Status
    Sold
  • Address
    Rose Garden Apartments
    170 West 5th Street
    North Vancouver, BC
  • Neighbourhood
    Lower Lonsdale
  • # of Units
    18
  • Year Built
    1971
  • PID
    007-956-495
  • Lot Size
    10,500 SQFT
  • Price
    $7,850,000
  • The Opportunity

    A rare opportunity for investors to acquire a 18-unit apartment building situated on approximately 10,500 square feet of RM-5 designated land within walking distance to the Lonsdale Quay and Seabus station. Rose Garden Apartments, which is located in the trendy and highly desirable Lower Lonsdale corridor offers a near fully renovated rental building in one

    of Metro Vancouver’s most attractive rental neighbourhoods. The offering provides investors with the unparalleled opportunity to own a premier apartment building with a very secure and stable cash flow, a high caliber of rental tenants, minimal capital expenditure for the foreseeable future, and an asset size which can easily be self-managed.
    The Property is held in a bare trust corporation and is available clear title allowing investors to take advantage of the attractive financing options with enhanced levered returns.

    Investment Highlights

    • Over $1,100,000 in recent capital improvements ($61,000 per suite)
    • Exceptional CMHC Financing potential
    • Title held in bare trustee corporation

    Recent Capital Upgrades

    • 17/18 suites fully renovated including stainless steel appliances and dishwashers
    • Torch-on and mansard roof
    • Domestic hot water and heating boilers
    • Balcony railings
    • Exterior refurbishment and painting
    • Parkade upgrades including thermal insulation and lighting
    • Modernized elevator cab
    • Common area flooring, paint and lighting
    • New intercom
    • Upgraded laundry room
    • Enhanced landscaping 

    Lower Lonsdale Location

    A vibrant and dynamic neighbourhood just 20 minutes from the employment base of downtown Vancouver. Lower Lonsdale is a rapidly growing mixed-use hub that has attracted the attention of major employers and many established residential developers. The immediate area features favourable rental demographics, vibrant retail offerings, as well as close proximity to schools, parks and transit lines.

    • Outdoor Recreation
    • Major Employers
    • Local Retail
    David Venance
    Executive Vice President

    David Venance

    Property Location