Sundance Apartments
143 East 21st Street

SOLD

Cushman and Wakefield is pleased to announce the successful sale of Sundance Apartments – one of North Vancouver’s most recently constructed mid-rise multi-family apartment buildings. Located in the heart of North Vancouver’s vibrant Central Lonsdale neighbourhood, the Property is a 99-suite mid-rise apartment building uniquely positioned atop the natural slope of Lonsdale Avenue. The Property represents a strategic investment opportunity to acquire a best-in-class apartment asset in one of Metro Vancouver’s most active rental markets.

Investment Profile

The Property is fully leased and stabilized at market rates. The City of North Vancouver is undergoing significant rental demand with a vacancy rate of 0.5% attributable to the unmatched lifestyle proposition of abundant amenities, recreation, transit and employment, all of which are exhibited by the location of Sundance Apartments. Built in 2017, there are no outstanding capital expenditures required nor any major deficiency issues further authenticating the investment and building quality of the Property.

Investment Highlights

• Stabilized multi-family rental asset
• Premier location in the heart of Central Lonsdale’s amenity rich neighbourhood
• Significant multi-family rental presence in one of the region’s most sought-after rental markets
• Recently constructed and exceptionally well maintained building
• Demand for rental housing is forecasted to continue to grow, which will apply further upward pressure to rental rates

Central Lonsdale Location

Central Lonsdale makes up the core of Lonsdale Avenue’s vibrant mixed-use community, notionally defined as the area between 23rd Street and 11th Street. The neighbourhood has experienced tremendous growth over the past decade with the completion of several high-density multi-residential projects and revitalization of the street front. Central Lonsdale’s transformation has created a walkable community with high-density living, shopping, services, public transportation and amenities all at resident’s doorsteps.