342 North Garden Drive, Vancouver
DESCRIPTION
*PRICE REDUCED*
East Vancouver’s latest apartment building FOR SALE. Situated on a corner lot in the quiet Cedar Cove, this building offers 12 suites (11 one-bedroom & 1 two-bedroom) in excellent condition. All units are made special by spacious wraparound balconies. The north-facing units on the second and third floors especially enjoy the magnificent view of the Burrard Inlet and the North Shore mountains. The south-facing units have large windows that allow ample light in. The property features a beautiful garden, well maintained by residents. Tenants also enjoy the convenience of the large private parking lot that is perfect for 9 vehicles. Updates have been implemented recently to increase the value of the property. Such updates include a new roof, hot water tank, hot water boiler, and double-glazed windows. Future development is available as well with a potential 2.4 FSR for purpose-built rental in the Grandview Woodland’s OCP. Current rents are substantially below market which provides opportunities for rent increases.
PROPERTY HIGHLIGHTS
11 one-bedroom and 1 two-bedroom units
Spacious wraparound balconies
Recent updates such as a new roof, hot water boiler & tank, and double-glazed windows
Potential 2.4 FSR for purpose-built rental
TAKE A TOUR!
CONTACT
Gordon Kleaman
Personal Real Estate Corporation
604-779-6644
gkleaman@gmail.com
Jim Pilkington
Personal Real Estate Corporation
604-785-5188
jimpilkington@shaw.ca
PROPERTY DETAILS
MLS#: C8053230
Price: $4,250,000
Zoning: RM-3A
Year Built: 1967
Building Type: 3-storey low-rise
Number of units: 12 ( 11 one-bed & 1 two-beds)
PID: 015-694-771
Lot Size: approx. 8,174 sq. ft
Parking: 9
Property Taxes: $9,826.59 (2022)
Legal Description: LOT 11, BLOCK 6, PLAN VAP178, DISTRICT LOT 184, NEW WESTMINSTER LAND DISTRICT
FSR: 2.4