Investment Opportunity with Development Potential

Joyce-Collingwood 16 mins to Downtown

Joyce Street

3511 - 3523 Kingsway

Melbourne Street For Sale Kingsway Aberdeen Street Investment Opportunity with Development Potential

3511 - 3523 Kingsway, Vancouver

Hart Buck Jennifer Darling Allan Cheng Personal Real Estate Corporation Senior Associate Associate Vice President 778 837 5900 778 929 9948 604 727 7001 [email protected] [email protected] [email protected]

Accelerating success. 3511 - 3523 Kingsway, Vancouver I For Sale The Opportunity Colliers is pleased to present the offering of two mixed-use fully tenanted properties in Subject Properties Renfrew-Collingwood with 148 feet of Kingsway frontage and 124 feet on Aberdeen Street. The site benefits from a corner location and being just steps away from the Joyce-Collingwood Skytrain Station and Boundary Road.

Features • Two legal lots with mixed-use properties • Three buildings featuring a total of 21 residential and 6 commercial units 3511 Kingsway • Strong, consistent income from the commercial and residential tenancies • Well maintained with many recent upgrades • Development potential under existing C-2 zoning and expedited rental policies current under review in the City of Vancouver

Recent Improvements 3523 Kingsway

3511 Kingsway: 3523 Kingsway:

• Roof approximately ten years old • Boiler replaced ten years ago • Sprinkler system and piping upgrades five • Sprinkler system installed years ago • Roof on house is 2 years old, roof on main • Garage door upgraded and security system building is four years old installed • 200 amp power • 300 amp power Rear of the properties • Boiler recently upgraded Property Overview

Civic Address 3511 Kingsway, Vancouver Civic Address 3523 Kingsway, Vancouver 18,000+ SF of future development potential PID 014-473-968 Legal Address 008-069-425

Located on the north side Located on the north of Kingsway between west corner of Kingsway Location Melbourne and Aberdeen Location and Aberdeen Street in High demand of rental Street in the Renfrew- the Renfrew-Collingwood market with escalating Collingwood neighbourhood. neighbourhood. rental rates Year Built 1972 Year Built 1954

Site Area 9,501 SF Site Area 9,067 SF

Ideal location blocks Currently improved with away from Boundary Currently improved with a two storey mixed-use Road and steps to a three storey mixed-use building with ground floor Skytrain Station Improvements building with ground floor Improvements commercial units and 1 floor commercial units and 2 floors of residential units with a of residential units. single family detached home at the rear of the property. Both properties are fully tenanted with upcoming 13 - 1 bedroom 7 Residential lease renewals Suite Mix 1 - bachelor Suite Mix Mix - TBC

4 - commercial 2 Commercial Units

Property Tax (2020) $33,247.10 Property Tax $23,248.70

NOI Contact Listing Agents NOI Contact Listing Agents

Please contact listing agents for pricing and financial information. Total Site Size Total Taxes (2020) 18,568 SF $56,495.80 3511 - 3523 Kingsway

Site Map

Legal Map

Subject Property 124 ft

3511 3523 Melbourne Street Aberdeen Street 148 ft Aberdeen Street

Melbourne Street Kingsway Kingsway

Frontage 148 feet - Kingsway 3511 3523 Land Land $4,831,000 $4,886,000

124 feet - Aberdeen Street Improvement Improvement $1,726,000 $12,800

Total Combined Assessed Value Assessed Value (2021) $11,455,800 Rear of 3511 Kingsway

Residential entrance | 3511 Kingsway

House at the rear of 3523 Kingsway

Rear of 3523 Kingsway Kitchen in 3511 Kingsway Laundry facilities Zoning & Income Redevelopment Potential

• Existing C-2 zoning allow for mixed-use • Average rental rates of the residential units development up to 2.5 FSR are significantly below CMHC median rental rates for Southeast Vancouver • No rezoning required to develop under existing zoning • Room for increase in residential rental rates over time and with tenant turnover • City of Vancouver continues to implement policies aimed to increase supply of rental • Well managed and maintained buildings housing stock to keep operating costs and expenditures reasonable • Increased density and height for buildings with 100% secured renal housing on existing • Continued low vacancy in Metro Vancouver commercial zoned properties is currently maintains high demand for rental product, under review particularly with convenient access to transit and amenities • New policy would contemplate 6-storey rental development up to 3.7 FSR Location Overview 29th Avenue Station Subject property

1 Safeway

2 London Drugs

3 TD Bank

4 CIBC Joyce-Collingwood Station 5 BC Liquor Store

6 Panago Pizza 7 7 Vancouver Public Library 8 4 8 Dairy Queen 3 9 Metrotown 9

10 Central Park 2 1 11 Swangard Stadium 5 6 10 • Well located East Vancouver location central to many 11 amenities including retail and dining options • Short walk to the Joyce- Collingwood SkyTrain station and regular bus service available along Kingsway • Convenient access to both Downtown Vancouver and Metrotown 83 80 66 Excellent Transit Very Walkable Bikeable 3515 - 3523 Kingsway, Vancouver

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