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Invest / Development Project in Kitsilano, Vancouver - $11,880,000

 

 

DESCRIPTION

 

 

Here is an opportunity to invest in one of the most sought after neighbourhoods in Canada.

 

With potential to develop a 4 storeys mixed use Commercial on the ground level and Residential apartments on the top 3 floors with roof top access for the penthouse units.

 

This property is located at the corner of Alma Street and 5th Avenue in Kitsilano area, 7 minute drive to UBC and 15 minutes drive to Downtown Vancouver.

 

The current zoning of the property is C2 which allows a FSR (Floor Space Ratio) of 2.5.

 

9,604 SqFt of total land size allows a total of 24,010 SqFt buildable.

 

The property is currently generating approximately $25,000 per month in rental income with POTENTIAL to INCREASE even More.

 

 

 

 

 

 

DEVELOPMENT POTENTIAL

 

 

  • 4  storeys mixed use if developed as Commercial and Residential

  • 6 storeys if developed  as a Rental Property

  • 9 to 22 Residential Units

  • 2 to 3 Commercial Retails Units

  • 18 to 32 Parking Spots

  • Land: 9,604 sq. ft.  / Corner lot (120 ft.* 80 ft.)

  • Buildable : 24,010 sq. ft.

  • Zoning: C2 FSR: 2.5

  • Price: $11,880,000

 

 

 

 

 

COMPARABLE STUDY

 

 

 

 

Single family homes are selling in an average of more than $3 Million in Kitsilano area.

 


Located just steps away from Point Grey, Canada's most expensive neighbourhood, Royal Yacht Club and Jericho Tennis Club makes this project desirable to many families who are downsizing but would like to stay in this great neighbourhood.

 


To see the list of similar projects and properties recently sold refer to the following table:

 

 

 

 

LEGAL DESCRIPTION

 

 

Civic Addresses: 2050 Alma Street, Vancouver, B.C.

 

Legal Description: PID: 011-276-126LOT D OF LOTS 13 AND 14 BLOCK 27 DISTRICT LOT 540 PLAN 4872

 

Civic Addresses: 2060 Alma Street, Vancouver, B.C.

 

Legal Description: PID: 011-276-118LOT C OF LOTS 13 AND 14 BLOCK 27 DISTRICT LOT 540 PLAN 4872

 

Civic Addresses: 3675 West 5th Avenue, Vancouver, B.C.

 

Legal Description: PID: 011-276-100LOT B OF LOTS 13 AND 14 BLOCK 27 DISTRICT LOT 540 PLAN 4872

 

 

 

LOCATION

 

 

 

 

Located in Kitsilano neighbourhood, one the most luxurious and sought after neighbourhood in Canada, near many Shops and Restaurants opposite Jericho Village and within walking distance to Jericho beach, Jericho Park, Royal Vancouver Yacht Club, Jericho Tennis Club, 7 minutes drive to UBC and 15 minutes drive to Downtown Vancouver.

 

 

 

 

 

 

 

To find out more about this Investment Opportunity and the FEASIBILITY STUDY of this project, please contact Han Lee at 778 789 9688.

 

 

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The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Real Estate Board of Greater Vancouver, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® Reciprocity logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board.

ROYALTY GROUP REALTY

HAN LEE REAL ESTATE
1065 SEYMOUR STREET
VANCOUVER, BRITISH COLUMBIA V6B 3M6

P  778.789.9688
E  HAN@HANLEE.CA

© 2012 - 2020 DynamicHan Group. All Rights Reserved.

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