2050 West 2nd Avenue, Vancouver

2050 West 2nd Avenue, Vancouver

$10,500,000 - Sold

Sold on October 17, 2018
21 units ($500,000 per unit)
Sold for $10,500,000

The Building

Prime three-storey, wood-frame walk up building with balconies for each unit. Newer roof, plumbing, boiler and hot water tank. The lower roof was done 2.5 years ago and the upper roof is approximately 12 years old. The building was replumbed with epoxy lineage 15 years ago. There are five penthouse units of which the two facing north have large decks and great views. There is also a common deck area for all tenants to enjoy. This view property was built by the current owner’s father and has never been offered on the market.

The Location

The subject property is situated in the best rental location in the city, rated “Walker’s Paradise” (walkscore.com) north of West 4th Avenue in Lower Kitsilano. Three blocks to Kitsilano Beach Park & Pool, tenants are also within walking distance to Yew Street featuring local eatery, pub, bakery and grocery market. Major shopping and transit along West 4th is also only two blocks away.

Property Details
Number of units 21
Year Built 1966
Lot Size 12,000 SF (100 x 120)
Zoning RM-4
Parking 9 open and 5 covered spaces
Property Taxes (2017) $18,560
Cap Rate 1.70% (Actual)
2.68% (Potential)
Financing Treat as clear title
Environmental Report Available confirming clean soil
Price $10,950,000

Suite Mix
Bachelor 2
One-Bedroom 19
Total 21

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.