Macdonald Commercial & Oakwyn Realty Ltd. are proud to present the opportunity to acquire a 5-unit mixed-use building in Vancouver’s desirable Kitsilano neighbourhood.
The building contains a ground-level retail unit and four residential rental units, one of which is a four-bedroom townhouse. Most units are vacant or owner-occupied, allowing an investor to quickly realize the market rents this property would yield.
Built in 1973, this apartment building offers five units. One unit is an (approx.) 2000 sq. ft. commercial unit, which most recently was used as a retail convenience store. There are two similar 2-bedroom & 1-bathroom units, both approximately 900 sq. ft. There is also a 500 sq. ft. (approx.) unauthorized 1-bedroom. Lastly, the property contains a 4-bedroom townhouse unit. Within this townhome, there is a basement containing 1 bedroom, 1 bathroom, and an additional kitchen.
This is an excellent opportunity for first-time multifamily investors or investors looking to add to their multifamily portfolio. It also gives prospective owners the opportunity to live onsite and manage the property themselves. The rental income upside offers great potential for any prospective investor.
The subject property is ideally located on the northwest corner of Yew Street and West 6th Avenue. Vancouver’s iconic Kitsilano Pool and Kitsilano Beach are less than a ten-minute’s walk. The future Arbutus Station, part of Broadway Subway Project, is approximately a five-minute walk from the property. Of course, there are many other shops, attractions, and amenities that Kitsilano has to offer that are within a short walk from the property.