Property Overview

  • Status
    Available
  • Address
    Bridgewater Apartments
    8616 Oak Street
    Vancouver, BC
    Canada
  • Neighbourhood
    Marpole
  • # of Units
    33
  • # of Storeys
    4
  • Year Built
    1978
  • Lot Size
    17,110 SQFT
  • Zoning
    RM-3A
  • Price
    Please Contact Listing Agents
  • Building Type
    wood-frame
  • Confidentiality Agreement
  • The Offering

    Cushman & Wakefield ULC is pleased to offer to the market a 100 percent freehold interest in Bridgewater Apartments, a professionally managed and maintained 33 suite purpose-built rental apartment building located at 8616 Oak Street, a corner lot which boasts 145’ of frontage along one of Vancouver’s primary arterial routes; Oak Street.

    The Marpole neighbourhood has a high concentration of apartment buildings but few, if any, that match this property’s exterior/interior aesthetic, locational prowess, and current and future income potential and the possibility to reposition to higher density in the future.

    The Property consists of approximately 19,900 square feet of net rentable area built on a 17,110 square foot lot. Over time, the suites have had varying degrees of upgrades completed upon turnover that have assisted in the process of adjusting to consumer demands. Overall gross revenue has the potential to dramatically increase upon tenant turnover, given the below-market rents that are currently in place.

    The Property is one of three assets in a portfolio being offered by the Vendor. It can be acquired on its own or as a collective Portfolio acquisition. Bridgewater Apartments represents a unique offering to hold as an income producing asset, with future development potential.

     

    Location

    Bridgewater Apartments is strategically located in the growing Marpole neighbourhood, which is fuelled by an uptick in urban vibrancy, west coast lifestyle and tremendous connectivity. Marine Gateway, which marked an unofficial opening of South Vancouver’s urban town centre at Cambie Street and SW Marine Drive, is a one-stop destination for all shopping needs. Notable retailers include T&T Market, Shoppers Drug Mart, Winners, TD Bank, CIBC Bank, Dublin Crossing pub, and a Cineplex movie theatre.

    New developments resulting from implementation of the Cambie Corridor Plan (2011) along Cambie Street have heavily influenced the character of the area. Marpole features over 800 residential rental units in planning.

    Investment Highlights

    • Situated on High Exposure Corner Lot
    • Exceptional Frontage and Curb Appeal with Stand-alone Future Redevelopment Potential
    • Strategically Located With Easy Access to YVR, UBC, Marine Gateway and Downtown Vancouver
    • Professionally Managed Asset Providing Secure Income for Investors
    • Maintained to an Exceptional Standard of Care with Several Capital Upgrades Completed
    • Clear Path to Attractive Income Growth with Apartment and Property Programming Potential
       

    Access to the Due Diligence Data Room

    A comprehensive data room is available upon execution of a Confidentiality Agreement which includes a comprehensive Confidential Offering Memorandum (“COM”), recent property reports and an extensive photo gallery.

    David Venance
    Executive Vice President

    David Venance

    Don Duncan
    Senior Vice President

    Don Duncan

    Andrew Hutson
    Senior Associate

    Andrew Hutson