1875 Yew Street, Vancouver

1875 Yew Street, Vancouver

$10,500,000 - Sold

Sold on September 17, 2018
25 units ($420,000 per unit)
Sold for $10,500,000

Manoa Yew was built in 1929, the same year that Point Grey and South Vancouver amalgamated with the City of Vancouver. On the property a laneway house was built, likely hosting the original owners or caretaker of the property. A few years later the Burrard Street Bridge was built connecting Kitsilano with downtown Vancouver. This vibrant neighbourhood exploded during the early 1900’s as students and hippies found affordable accommodation downtown. Since then the building has only changed hands a couple of times. The current owners have run and operated the building for generations. In which time, rents in Kitsilano have skyrocketed as population continues to increase and rental stock diminishes.

A new owner has the opportunity to turn a new chapter for Manoa Yew. Keeping the beautiful character finishes of the property, an investor can input some capital into suite renovations to meet the higher end demands of Millennials. Residents today appreciate more than ever the extravagant wood finishings, high ceilings, and spacious units that were common during this era of construction. The roof and plumbing have already been replaced reducing capital required. A unique aspect of the property is the additional house. Many residents in Kitsilano are still more of the creative type and prefer eclectic accommodation or their own separated house that can feel more homey.

Property Details
Number of units 22 units plus a legal triplex laneway house
Net operating income (2016) $173,948
Lot size 9,000 SF (75’ x 120’)
Zoning RM-4
Year Built 1929

Suite Mix
One-Bedroom 14 units
Bachelor 8 units
Bachelor (House) 1 unit
One-Bedroom (House) 1 unit
Two-Bedroom (House) 1 unit
Total Legal Units
25 units

Property on Map

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.