Property Overview

  • Status
  • Address
    Minerva Gardens
    33371 2nd Avenue
    Mission, BC V2V 1K4
  • Type
  • # of Units
  • Year Built
  • PID
  • Lot Size
    17,641 SQFT
  • Zoning
  • Price
  • Confidentiality Agreement
  • The Opportunity

    Cushman & Wakefield National Capital Markets Group presents investors the opportunity to acquire Minerva Garden Apartments (the “Property”), a 26-suite multifamily investment asset situated on a corner lot approximately 17,641 sf of MA2 zoned land located in the Fraser Valley’s rapidly growing District of Mission, BC.

    The Property is professionally managed by MetCap Living to an institutional investment standard. There have been several recent capital upgrades to the Property including 13 of the suites being completely renovated in 2023 and leased to current market rents, leaving a partially stabilized asset with substantial value-add opportunity to an investor and subsequent future revenue growth and an enhanced investment yield. There is essentially no deferred repair and maintenance to be undertaken in the near term, meaning that an investor can focus free cash flow on future unit renovations upon tenant turnover. Underpinned by a land-use designation which provides future redevelopment potential to a higher density with a 4.5 FSR.


    Location Highlights

    • Central location adjacent to Downtown Mission surrounded by service-based retail, dining options, schools and professional and employment destinations
    • Nearby to the Waterfront Comprehensive Planning Area, one of the Eastern Fraser Valley’s largest planning projects that will see significant densification and revitalization of Mission’s waterfront
    • A short walk from the West Coast express Mission City Station making downtown Vancouver regularly accessible via transit in just over an hour

    The Offering Process

    The Property is being offered for sale with a formal asking price of $5,650,000. All interested parties are encouraged to execute and return a confidentiality agreement to gain access to additional due diligence and Property information including a data room.
    Offers will be reviewed as they are received. All prospective purchasers are strongly encouraged to contact the listing agents at their earliest convenience for offer submission guidelines.

    David Venance
    Executive Vice President

    David Venance

    Patrick Hannah
    Senior Associate

    Patrick Hannah

    Craig W. Ballantyne
    Senior Vice President

    Craig W. Ballantyne

    Chris Harper
    Senior Associate

    Chris Harper

    Property Location