132 East 20th Street

The Opportunity

Cushman & Wakefield presents investors the opportunity to acquire a turn-key multifamily investment property located at 132 East 20thStreet, North Vancouver, BC (the “Property”), a nineteen-suite rental apartment building of modern condo-quality comprised of an attractive suite with over 14,000 square feet of Net Rentable Area (“NRA”).

Strategically positioned in the City of North Vancouver’s highly desirable Central Lonsdale neighborhood, the Property is in excellent condition and surrounded by a variety of amenities along the Lonsdale corridor. The current rents average $2.65 per square foot which is notably below market. The consistent tenant turnover demonstrated at the Property coupled with continued upward pressure on rents provides investors a clear path to income and investment yield growth.

 Investment & Property Highlights

• An attractive suite-mix of well-appointed, large condo quality residential units offering world-class view corridors from most suites
• Recent upgrades to several units and essentially no deferred repair and maintenance throughout the Property
• Electric base board heat and individual hot water tanks separately metered for each unit drives down operating expenses to ownership
• Current rents present investors with approximately 30% income growth upon tenant turnover based on today’s mark-to-market, with minimal capital expenditure required
• Consistent tenant churn demonstrating a clear path to rent stabilization along with attractive curb appeal and pride of ownership evident throughout the building
• Property is held in a bare trust nominee which an investor may elect to acquire to avoid Property Transfer Tax (“PTT”)
• Corner lot with covered, secured parking and laneway access