8580 Oak Street, Vancouver

8580 Oak Street, Vancouver

$8,800,000 - Sold

Sold on December 14, 2018
17 units ($517,647 per unit)
Sold for $8,800,000

17-Unit Apartment Building with Development Potential

The Location

Enjoy Westside living. The Marpole community is rapidly changing with the implementation of the SkyTrain development at MC squared. New amenities are becoming available to tenants that are revitalizing an area that has seen mostly older residences. As millennials become more attracted to the area, rents continue to increase velocity relative to other communities. The subject property is on public transit routes directly to downtown. Nearby improvements include the Safeway development, a large theatre in MC squared, bowling alleys, coffee shops, small retailers and much more.

The Immediate Development Potential

This property falls within the new Marpole Official Community Plan as designated for a six-storey building. With a 2.5 floor area ratio (FAR), the potential buildable would be a 28,468-sf corner lot. Current developments include across the street and behind the property that are redefining the landscape of the Marpole community.

The Highlights

  • Buy a brand new condo quality building
  • Completely redesigned and condo quality renovation to the units
  • Stainless steel appliances
  • Granite countertops
  • High quality kitchen cupboards
  • Dishwashers
  • New Windows
  • New Roof
  • Underground parking
  • New Boiler
  • Great suite mix
  • Open layouts
  • Building replumbed
  • Decks rebuilt

Property Details
Number of Units 17
Lot Size 11,387 SF
Year Built 1969
Potential Zoning Six storeys
Property Taxes (2018) $15,216

Suite Mix
One-Bedroom 8 units
One-Bedroom + Den 1 unit
Two-Bedroom 6 units
Two-Bedroom + Den 1 unit
Three-Bedroom 1 unit
Total 17 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.