FOR SALE THE KITS MANOR 1955 TRAFALGAR STREET, VANCOUVER, BC
EXCEPTIONAL KITSILANO INVESTMENT PROPERTY WITH DEVELOPMENT POTENTIAL THE KITS MANOR | 1955 TRAFALGAR STREET, VANCOUVER
Property Details The Opportunity Lee & Associates Vancouver is pleased to present the opportunity to acquire 1955 Trafalgar Street (the Civic Address 1955 Trafalgar Street, Vancouver, BC “Property”), a mixed-use C-2 zoned property located in the heart of Vancouver’s Kitsilano neighbourhood. The Property offers exceptional development potential with spectacular views of the North Shore Parcel Identifier 015-125-017 mountains and English Bay. Strong holding income allows potential investors or developers to minimize overall carrying costs while providing rental upside on lease renewal/turnover. Site Size 8,522 SF (75.42’ frontage x 113’ site depth) Location Overview C-2 Commercial District. Allows a wide range of The Property is strategically located on the northwest corner of West 4th Avenue and Trafalgar Street commercial uses as well as residential uses along in the highly sought-after Kitsilano neighbourhood of Vancouver. including hotel and retail. Maximum density Zoning permitted is 2.5 floor space ratio and four stories Kitsilano is known as one of Vancouver’s most prestigious multi-residential districts, which has with five stories possible with the Director of consistently enjoyed a near 0% vacancy rate and rapidly appreciating rental rates. Residents flock to Planning approval. Kitsilano for stunning natural and commercial amenities all while enjoying an abundance of transit Gross Taxes (2018) $48,633.00 options to UBC, Downtown Vancouver, and beyond. The desirable location, sought-after amenities, and substantial development upside combine to present an opportunity to acquire an excellent Title Treat as Clear Title Kitsilano asset.
Net Operating 2018: $328,000.00 per annum approximately The Boathouse Restaurant Income 2019: $342,000.00 per annum projected
Sale Price $13,980,000.00 Trafalgar St
113 ft Residential Access Fronting Trafalgar Street W 4th AveW 75.42 ft
Kitsilano Pool
0.8% $1.4 Million $102,195.78 KITSILANO RESIDENTIAL VACANCY RATE AVERAGE NEW KITSILANO CONDO PRICE $ AVERAGE KITSILANO HOUSEHOLD INCOME THE KITS MANOR | 1955 TRAFALGAR STREET, VANCOUVER
Building Size Units Square Feet Total
Residential 12 725 SF 8,700 SF
Commercial 1 2,199 SF 2,199 SF
Total 13 10,899 SF
* All measurements are approximate and subject to confirmation.
Investment Highlights ff High profile corner location with development Residential Courtyard SubjectWest 4th Property Frontage potential for a mid-rise project with spectacular ocean and mountain views; ff Limited supply of new and upcoming condominium projects in the Kitsilano area reduces future market risk; ff Desirable C-2 zoning; ff Exceptional holding income with upside; ff Strategically located two blocks east of MacDonald Street and West 4th Avenue, at which H.Y. Louie Co. and Wesgroup have purchased the northwest and northeast corners for large scale development projects, which will create a new mixed-use hub in western Kitsilano; f f Commercial rent escalation over the next five years; Potential Rooftop View ff 0% vacancy for the Property over the last three years.
Building Highlights 30 m W 4th Avenue Elevation f f Concrete podium with 2nd and 3rd floor wood 26 m frame townhomes; ff Large interior courtyard with landscaping; 22 m Subject Site ff Enclosed parkade with 13 secured stalls; f f Building built in 1983 with full upgrade in 2009 18 m including entirely new façade and updated suites; ff 12 efficient townhomes (2 bedroom, 1 bath) with 14 m below market rents; 260 0 Block 270 0 Block ff Commercial unit (Dark Table Restaurant) with fully LEVEL SEA ABOVE METRES Trafalgar Street Stephens Street Macdonald Street net lease and demolition clause in place. STREET LOCATION
97 95 73 3 km 6 14 10 BIKE SCORE WALK SCORE TRANSIT SCORE TO DOWNTOWN min min min UBC
Point Grey West Vancouver Royal Vancouver Yacht Club
H.Y. Louie Development Site (30,133 SF)
Wesgroup Development Macdonald St Site (22,254 SF)
W 4th Ave SUBJECT PROPERTY Stephens St
W 3rd Ave
Trafalgar St
Russell Long, BA, DULE Associate | Investment D 604.630.3059 C 604.354.8845 [email protected]
*Personal Real Estate Corporation. Sources: Real Estate Board of Greater Vancouver and Statistics Canada. Disclaimer: Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verification. © Lee & Associates Commercial Real Estate (BC) Ltd. All Rights Reserved. 475 West Georgia Street, Suite 800 | Vancouver, BC V6B 4M9 | 604.684.7117 | lee-associates.com