For Sale: 45-suite apartment building in North Vancouver's Central Lonsdale
MARK GOODMAN
![MARK GOODMAN]()
MARK GOODMAN
Principal Broker at Goodman Commercial Inc. ? Most Influential Real Estate Leader in BC (Storeys) ? Publisher of Goodman Report ? Expert in Apartment Building & Development Land Sales
Westside Apartments
140 West 17th Street North Vancouver
Central Lonsdale apartment building
45 suites
Asking $11,950,000
- Exceptionally well maintained and renovated 45-suite three storey apartment building featuring balconies, parking and elevator
- Prime Central Lonsdale North Vancouver neighbourhood, a half block to shopping, restaurants and transit on Lonsdale Street
- Generous suite sizes: 33 one-bedroom (627–691 sf) and 12 two-bedroom suites (876–919 sf)
- Constructed in 1979 and originally designed as a strata-titled building (concrete skim coat in floors)
- Secure underground parking for 54 cars; entrance fronting West 17th Street
- Major capital upgrades over the last few years including modernized suites
- Westside Apartment reflects a genuine pride of ownership
Commercial Mortgages, Equipment Loans & Leases, Business Mergers, Acquisitions & Expansion, Strata & Condo Corporation Financing
9 年I have not seen a 5-7% cap in Vancouver form quite some time. The low cost of funds today makes a big difference when underwriting these deals. Currently quoting below 3% for 5 year money,...floor rates are not always used.
President & CEO at Drake Wellington & Private Wealth Advisor at Raintree Financial Solutions (EMD)
9 年Looks like a 3.3 cap...I guess thats the premiums for Vancouver these days. I like to buy in the 5 to 7.5 cap rate range more in other markets, which doesn't exist in Vancouver any longer.
Financial Advisor at Freedom 55 Financial specializing in Wealth Creation. Speaker. Ironman. Fundraiser
9 年Nice asset
President at Akali Capital Corporation
9 年very nice asset. 3% cap?