FOR SALE
A Premium Portfolio of Three Rental Apartment Properties with Significant Land Components, Prominently Located in the Heart of Vancouver’s South Granville Neighbourhood
THE OPPORTUNITY
The CBRE National Apartment Group – BC is pleased to present the exclusive opportunity to acquire the South Granville Apartment Portfolio, a premium portfolio of three cash-flow producing rental apartment buildings with significant land components prominently located in the prestigious South Granville neighbourhood of Fairview, one of Metro Vancouver’s most sought-after neighbourhoods and long regarded as one of the strongest rental markets in Canada.
The Portfolio consists of three wood-frame rental apartment buildings with a combined 106 suites, located within minutes from one another. The buildings provide attractive initial holding income with upside in rents allowing investors to improve revenue and yield while the sizable land components position investors to benefit from redevelopment opportunities resulting from the Broadway Plan Study Area and Future SkyTrain. Investors will benefit from residential demand anchored around South Granville’s favourable demographics, low vacancy rates and proximity to transit and numerous tenant-friendly amenities all within walking distance along Granville Street, Oak Street and West Broadway, which support long-term growth and rising rental rates.
A truly unique opportunity to acquire three sizable holding properties in excellent proximity to the future Millennium Line Broadway SkyTrain Extension.
*The combined List Price is $49,718,000 and the Vendors preference would be to sell all three properties together, however each property has an assigned list price and consideration will be given to individual offers.
Location Overview
The three properties in the South Granville Apartment Portfolio are situated within Vancouver’s Fairview (South Granville) neighbourhood. This eclectic neighbourhood is home to a wide range of local economic drivers and tenant-friendly amenities with excellent access to shopping, cultural & tourist attractions, and two of Vancouver’s major employment centres. A variety of public and private sector employment drives residential demand in the area, including Vancouver General Hospital, Vancouver City Hall, and a variety of local businesses and services along Granville Street, West Broadway, and Cambie Street.
Existing and expanding infrastructure also play an important role in Fairview’s ongoing growth. The Broadway Subway Project will be an important addition to the Broadway Corridor, which is currently deemed as the busiest bus route in Canada and the U.S.A, with more than 100,000 transit trips each day. The Broadway Subway Project will see 6 new underground stations added to the existing Millennium Line SkyTrain, from VCC-Clark all the way to Broadway and Arbutus Street. Construction is expected to begin in Fall of 2020, with the line in service In 2025. The Broadway Subway project is slated to enhance commute times and spur further development; as improved access begets new opportunities in the area, residential demand is expected to remain high in the neighbourhoods surrounding the Broadway Corridor.
The Portfolio consists of three wood-frame rental apartment buildings with a combined 106 suites, located within minutes from one another. The buildings provide attractive initial holding income with upside in rents allowing investors to improve revenue and yield while the sizable land components position investors to benefit from redevelopment opportunities resulting from the Broadway Plan Study Area and Future SkyTrain. Investors will benefit from residential demand anchored around South Granville’s favourable demographics, low vacancy rates and proximity to transit and numerous tenant-friendly amenities all within walking distance along Granville Street, Oak Street and West Broadway, which support long-term growth and rising rental rates.
Thank you for your interest in the South Granville Apartment Portfolio. To download our brochure and better understand your needs, please enter your information below.
LANCE COULSON
Executive Vice President
Personal Real Estate Corporation
National Apartment Group
GREG AMBROSE
Senior Sales Associate
National Apartment Group
KEVIN MURRAY
Senior Sales Associate
National Apartment Group
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the Property of their respective owners. All Rights Reserved. Mapping Source: Google Earth.