Multifamily / Retail / Other / Other
Available Space10,899 ft²
SourceLee & Associates Vancouver
The Building - Kitsilano Investment with Development Potential
Lee & Associates Vancouver is pleased to present the opportunity to acquire The Kits Manor, 1955 Trafalgar Street (the “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 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.
- High profile corner location with development potential for a mid-rise project with spectacular ocean and mountain views;
- Limited supply of new and upcoming condominium projects in the Kitsilano area reduces future market risk;
- Exceptional holding income with upside;
- 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;
- Commercial rent escalation over the next five years;
- 0% vacancy for the Property over the last 24 months.
- Concrete podium with 2nd and 3rd floor wood frame townhomes;
- Large interior courtyard with landscaping;
- Enclosed parkade with 13 secured stalls;
- Building built in 1983 with full upgrade in 2009 including entirely new façade and updated suites;
- 12 efficient townhomes (2 bedroom, 1 bath) with below market rents;
- Commercial unit (Dark Table Restaurant) with fully net lease and demolition clause in place.
Zoning: C-2 Commercial District
Gross Taxes (2018): $48,633.00
Net Operating Income: Approximately $328,000.00 per annum
Maximum Density: 2.5 FSR, 4 stories
Property TypeMultifamily / Retail / Other / Other