for sale // 2464 west 2nd avenue // vancouver // bc · 2018-10-06 · contact us: for sale // 2464...
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Contact Us:
FOR SALE // 2464 West 2nd Avenue // Vancouver // BC
Colliers International200 Granville Street | 19th Floor
Vancouver, BC | V6C 2R6P: +1 604 681 4111
JONATHAN GEEAssociate604 781 [email protected]
STEVE FAMESenior Vice PresidentPersonal Real Estate Corporation604 761 [email protected]
Perched upon the Kitsilano slopes between Balsam and Larch Streets, the subject property offers magnificent views overlooking English Bay, Burrard Inlet and the North Shore Mountains. Located in the coveted “North-of-Fourth” location of Kitsilano, the subject property enjoys immediate proximity to world-class amenities such as the West 4th Avenue corridor, Kitsilano Beach, and Granville Island. A neighbourhood that once housed Canada’s counterculture in the 1960’s, Kitsilano has grown to be one of the most sought-after places to live. Home to an eclectic mix of retailers, such as Whole Foods, Safeway, 49th Parallel, and Browns Social House, Kitsilano is sprawling with urban activity.
As vacancy rates approach zero, tenure, stability and rental upside are prominent and assured. Historically high occupancy coupled with an unparalleled location assures that 2464 West 2nd Avenue is a secure investment that will pay dividends for years to come.
OPPORTUNITY
Address 2464 West 2nd Avenue
Legal AddressLot 4 Block 221 Plan VAP1058 District Lot 526 Land District 36
PID 004-402-588
Total Site Area 6,000 SF
Site Dimensions 50’ x 120’
Property Taxes $12,074.67 (2018)
Zoning RM-4
Price $6,898,000
SALIENT FACTS
• Premier 10-suite apartment building in preferred North-of-Fourth location
• Prominent penthouse with 600 SF deck overlooking Burrard Inlet and Downtown
• Renovated suites with in-suite laundry, new flooring, and new appliances
• New plumbing, double-glazed windows, electrical, roof, and mechanical system
• Building includes parking stalls, a bike room, master locks, and above-average ceiling height
PROPERTY FEATURES
Constructed in 1958, the subject property features a three-storey wood-frame apartment building with undeniable curb appeal and a coveted two-level penthouse. The exterior and interior has been painted, new wood doors for each unit with master locks, all new wiring and circuit breakers, new plumbing and a new roof. During the renovation process, the insulation was replaced, sound-proofing was added, as well as, new drywall.
All homes feature in-suite laundry, new appliances with built-in microwaves, dishwashers, new flooring and pot-lighting. The ground floor offers two large two-bedrooms with two bathrooms and substantial outdoor patios. There are seven one-bedrooms, four of which feature built-in office stations.
The penthouse is a two-bedroom suite with two levels and hardwood flooring whereby the first level features two large bedrooms and a washroom outfitted with stone tiling, a steam shower, and condo-quality fixtures. The second floor features a bright living room and adjacent Juliet balcony, the kitchen, and a 600 SF outdoor deck complete with a built-in gas line, two heaters, and impeccable views. Unit 207 is equipped with hot water heating, the penthouse with a mix of electric and hot water heat, and the remaining suites are electric heat. The suites are individually metered and tenants are billed directly for hydro.
Parking for five vehicles is located at the rear of the building on freshly paved asphalt. The Super Hot boiler was recently replaced and the Rheem Ruud hot water tank was replaced in 2007. The torched-on roof was also recently replaced and an oil tank was removed.
By all definitions prime, Kitsilano Court is generating substantial income and offers a care-free investment in a dynamic neighbourhood.
IMPROVEMENTS
W 2nd Ave
Larc
h St
Bals
am S
t
W 3rd Ave
JONATHAN GEEAssociate604 781 [email protected]
STEVE FAMESenior Vice PresidentPersonal Real Estate Corporation604 761 [email protected]
Colliers International200 Granville Street | 19th Floor
Vancouver, BC | V6C 2R6P: +1 604 681 4111
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Nicolls Inc. HL 072018