Property Overview

  • Status
    Sold
  • Address
    Northridge Apartments
    269 West 4th Street
    North Vancouver, BC
  • Neighbourhood
    Lower Lonsdale
  • # of Units
    47
  • Year Built
    1972
  • PID
    007-954-336
  • Lot Size
    23,986 SQFT
  • Price
    $19,400,000
  • The Opportunity

    A premier 47-unit rental apartment building situated on approximately 23,986 sf of freehold land in North Vancouver’s Lower Lonsdale neighbourhood, which is one of British Columbia’s most attractive and secure rental markets. The strategic location is within short walking distance to the Lonsdale Quay and the Seabus which connects tenants to Vancouver’s downtown employment hub in a 15 minute commute. Northridge Apartments has had over $1,900,000 recently invested in capital improvement, including 68% of the residential units being completely renovated to a condo-quality finish. Therefore investors can focus future capital expenditure on the remaining un-renovated units to capitalize on the proven revenue and investment yield growth.

    Investment Highlights

    • Extensive capital improvements recently completed
    • Secure cash flow with proven value-add and revenue upside opportunity
    • Distinct market leasing advantages
    • Strategic location (85/100 walk score) within walking distance to Seabus

    Recent Property Improvements

    • Full suite renovations on 32 suites
    • New roof
    • New domestic hot water and heating boilers
    • New hot water tanks
    • Full parkade membrane replacement
    • Exterior refurbishment and painting
    • New balcony railings
    • Parkade upgrades including thermal insulation and lighting
    • Common area upgrades including new flooring, paint and lighting
    • Breaker panels in each suites
    • Landscaping and irrigation system
    • Night lighting
    • New intercom
    • Energy efficient lighting throughout building common areas & suites
    • New stainless steel appliances in renovated suites including dishwashers & over the range microwaves

    Lower Lonsdale

    • Designated as North Vancouver’s ‘urban core’ Lower Lonsdale is home to 61% of the City’s residents.
    • This region is one of the fastest growing and most densely populated neighbourhood on the North Shore.
    • Lower Lonsdale has experienced rapid grow in the last few years with many high-density residential projects and the revitalization of the entire Waterfront district.
    • Located an 8 minute walk away from the Property is Lonsdale Avenue, a highly walkable arterial with shopping, amenities and services.
    • Lonsdale Quay Market, located a 14 minute walk from Northridge Apartments, is a vibrant waterfront hub with restaurants, fresh food vendors, cafes, and shops.
    • North Vancouver is in close proximity to three local ski mountains; all within 30 minutes of driving these provide summer and winter recreation activities.
    David Venance
    Executive Vice President

    David Venance

    Property Location