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Multifamily

Greatview Manor

1280 Haro Street, Vancouver, BC V6E 1E8

Listing Price: $31,000,000

Cap Rate
2.52%
Number of Units
66
GRM
27.64
Price/Unit
$469,697
Price/Gross SF
$840.11
Gross SF
36,900

Investment Overview

The McEvay Blair Multifamily Group of Marcus & Millichap (“M&M”) is pleased to present the opportunity to acquire Greatview Manor located at 1280 Haro Street, Vancouver, BC (the “Property”). Greatview Manor is a 66-unit 9 storey concrete rental apartment building featuring a world class location in Vancouver’s vibrant West End with immediate proximity to local amenities, famed restaurants, cafes, and entertainment along Robson Street.

This legacy multifamily asset is being offered to the market for the first time in over 60 years. Over those years the ownership family has managed the Property with prudent and proactive maintenance, including upgrades and improvements to all major building systems, minimizing capital exposure for future ownership, and creating a turn-key investment with a clear path to significant income growth.

Investment Highlights

  • Greatview Manor is a nine-storey apartment building, originally built in 1962, featuring 66-units, communal laundry services, storage lockers, surface, and secured parking, and two elevators.
  • Situated in the heart of Vancouver's vibrant West End the Property is surrounded by world class amenities including restaurants and shops along Robson Street, Stanley Park, and English Bay.
  • Long term pride of ownership is evident throughout the meticulously maintained building. Significant capital expenditures have been undertaken in recent years, minimizing future capital exposure.
  • Greatview Manor's central and convenient location provides tenants with nearly immediate access to multiple bus routes spanning in all directions of the city and is within walking distance to Downtown Vancouver's Central Business District along with Burrard Station providing access to the SkyTrain's expanding network across the Lower Mainland.
  • There is approximately 72% mark-market upside on the current rents averaging $1,279 or $2.26 per square foot when compared to competing rents in the neighbourhood.
  • Under the Laneways 2.0 strategy within the West End Community Plan the Property carries the potential for infill development of the under-utilized lane frontage.

Exclusively Listed By

Multifamily

Greatview Manor

Listing Price: $31,000,000

Cap Rate
2.52%
Number of Units
66
GRM
27.64
Price/Unit
$469,697
Price/Gross SF
$840.11
Gross SF
36,900

Investment Highlights

  • Greatview Manor is a nine-storey apartment building, originally built in 1962, featuring 66-units, communal laundry services, storage lockers, surface, and secured parking, and two elevators.
  • Situated in the heart of Vancouver's vibrant West End the Property is surrounded by world class amenities including restaurants and shops along Robson Street, Stanley Park, and English Bay.
  • Long term pride of ownership is evident throughout the meticulously maintained building. Significant capital expenditures have been undertaken in recent years, minimizing future capital exposure.
  • Greatview Manor's central and convenient location provides tenants with nearly immediate access to multiple bus routes spanning in all directions of the city and is within walking distance to Downtown Vancouver's Central Business District along with Burrard Station providing access to the SkyTrain's expanding network across the Lower Mainland.
  • There is approximately 72% mark-market upside on the current rents averaging $1,279 or $2.26 per square foot when compared to competing rents in the neighbourhood.
  • Under the Laneways 2.0 strategy within the West End Community Plan the Property carries the potential for infill development of the under-utilized lane frontage.

Investment Overview

The McEvay Blair Multifamily Group of Marcus & Millichap (“M&M”) is pleased to present the opportunity to acquire Greatview Manor located at 1280 Haro Street, Vancouver, BC (the “Property”). Greatview Manor is a 66-unit 9 storey concrete rental apartment building featuring a world class location in Vancouver’s vibrant West End with immediate proximity to local amenities, famed restaurants, cafes, and entertainment along Robson Street. This legacy multifamily asset is being offered to the market for the first time in over 60 years. Over those years the ownership family has managed the Property with prudent and proactive maintenance, including upgrades and improvements to all major building systems, minimizing capital exposure for future ownership, and creating a turn-key investment with a clear path to significant income growth.

Exclusively Listed By

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