1630 Chesterfield Avenue

SOLD 

Cushman & Wakefield is pleased to announce the successful sale of an eleven (11) suite, value-add apartment building located at 1630 Chesterfield Avenue, North Vancouver, in the bustling Central Lonsdale neighbourhood.

Investment Highlights 

• Centre ice, North Vancouver location along the dynamic and growing Lonsdale corridor
• According to the latest rent report from live.rent, North Vancouver is officially the most expensive city for renters in Canada, where the average rent is now $2,760 a month
• Value-add offering with significant revenue upside upon tenant turnover
• Recent mechanical capital expenditures undertaken by previous owners
• Attractive assumable CMHC financing allowing investors to access more leverage at a lower interest rate than would be supported in today’s capital markets
• Property is held in a bare trust nominee which an investor may elect to acquire at their option

Location

Centrally positioned just one bock west of Lonsdale Avenue, between the Trans-Canada Highway and North Vancouver’s esteemed Lower Lonsdale neighbourhood, the property attracts a wide range of high-quality tenants.  Employment opportunities in the area are highlighted by the walkable Lions Gate Hospital and the professional services firms in the Lonsdale Corridor, as well as the immediate accessibility to Downtown Vancouver through Lonsdale Quay’s SeaBus Terminal. World class outdoor recreation at the convenient North Shore Mountains combined with ample public parks and schools in the community adds to Central Lonsdale’s unrivalled lifestyle offering.