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Multifamily

St. Elmo Rooms

425 Campbell Avenue, Vancouver, BC V6A 3K4

Listing Price: $3,300,000

Cap Rate
4.27%
Number of Units
20
Price/Unit
$165,000
Price/Gross SF
$1,623.22
Gross SF
2,033

Investment Overview

St. Elmo Rooms is a unique, beautifully revitalized 20 unit apartment building in East Vancouver’s historic Strathcona neighbourhood featuring two luxurious one-bedroom units on the ground floor and 18 micro-units on the floors above. The two extensively renovated ground level one-bedroom units feature condo-style finishes with private entrances, 12’ high ceilings, radiant in-floor heating, in-suite laundry, high-end modern kitchens and spa-like bathrooms. At the owner’s discretion they can be further combined into one large two-bedroom unit. The upper floors contain 18 micro-units under the Single Room Accommodation (SRA) Bylaw that are equipped with their own fridges, sinks, and gas stoves - some feature views of the mountains. Tenants have access to four communal washrooms on the second and third floors.

Investment Highlights

  • Transit oriented location within close proximity to an emerging restaurant and brewery scene.
  • Significant cost savings with assumable CMHC financing featuring an attractive 10 year rate
  • The property underwent a massive rehabilitation project in 2019 with over $800,000 spent on capital improvements

Exclusively Listed By

Multifamily

St. Elmo Rooms

Listing Price: $3,300,000

Cap Rate
4.27%
Number of Units
20
Price/Unit
$165,000
Price/Gross SF
$1,623.22
Gross SF
2,033

Investment Highlights

  • Transit oriented location within close proximity to an emerging restaurant and brewery scene.
  • Significant cost savings with assumable CMHC financing featuring an attractive 10 year rate
  • The property underwent a massive rehabilitation project in 2019 with over $800,000 spent on capital improvements

Investment Overview

St. Elmo Rooms is a unique, beautifully revitalized 20 unit apartment building in East Vancouver’s historic Strathcona neighbourhood featuring two luxurious one-bedroom units on the ground floor and 18 micro-units on the floors above. The two extensively renovated ground level one-bedroom units feature condo-style finishes with private entrances, 12’ high ceilings, radiant in-floor heating, in-suite laundry, high-end modern kitchens and spa-like bathrooms. At the owner’s discretion they can be further combined into one large two-bedroom unit. The upper floors contain 18 micro-units under the Single Room Accommodation (SRA) Bylaw that are equipped with their own fridges, sinks, and gas stoves - some feature views of the mountains. Tenants have access to four communal washrooms on the second and third floors.

Exclusively Listed By

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