3479 Kingsway

Vancouver, BC


 

DESCRIPTION

3479 Kingsway is a mixed-use commercial property strategically located on one of the more prominent corners along the Kingsway corridor in Vancouver, British Columbia. The offering represents the opportunity to acquire a rare C-2 zoned corner property comprising a unique mix of rental apartment suites over street-front retail with significant redevelopment upside potential. 
 

INVESTMENT HIGHLIGHTS

  • Ideally located on the corner of Kingsway and Melbourne Street in the heart of the Joyce / Collingwood neighbourhood on the east side of Vancouver. Just minutes from Downtown Vancouver, the many shops and services at Metropolis at Metrotown Mall and within walking distance to the Joyce Skytrain Station;
  • The property enjoys close to 200’ of prime frontage along the thriving Kingsway corridor, providing excellent street exposure;
  • The existing building is comprised of a net rentable area of approximately 23,400 square feet with residential and street-front retail on the main floor and residential above, currently leased to 29 rental apartment tenants and 5 commercial tenants fronting Kingsway;
  • Existing C-2 zoning allows for a mixed-use retail/condo development up to a density of 2.5x FSR;
  • Opportunity to submit a redevelopment application to construct a purpose-built rental project on the site under the City of Vancouver’s Rental 100 Program, which may allow for increased heights and densities;
  • The building has good utility and provides investors holding income at rents in place that are currently below market while a redevelopment is planned for the site.
 

FURTHER DETAILS

The property is being offered clear title allowing investors to take advantage of the current interest rate environment.
 

PRICE

Contact Agent