Royal Pacific Realty Ltd.
Royal Pacific Realty Ltd.
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2139 2147 Kingsway
Victoria VE Vancouver V5N 2T4

$8,800,000
Multi-Family Commercial, Retail

Status:
Active
Prop. Type:
Multi-Family Commercial, Retail
MLS® Num:
C8069411
Build. Type:
Freestanding
Luk Real Estate Group is pleased to list this fully-stratified property containing 14 residential units (8 one-bedroom + 6 two-bedroom) and 4 retail units. The property is fully occupied and produces steady income for investors and developers. As the property consists of 18 strata lots and is 100% owned by one owner, this makes it the perfect for repositioning and provides multiple exit strategies. Under the existing C-2 zoning, the property can be redeveloped as a purpose-built rental building on it own with a density up to 3.50 FSR. If assembled, the property can be redeveloped for up to 3.70 FSR under the existing C-2 zoning. Adjacent to the property at 4589 Gladstone, is 6-storey mixed-use building built in 2024 that includes 284 beds for student housing and 12,000 SF of retail.
Sale Type:
Asset
Sublease:
Yes
Ownership:
Freehold
Property Type:
Multi-Family Commercial, Retail
Commercial Type:
Multi Family
Construction:
Concrete, Frame Wood, Mixed
Num Storeys:
3
Building Type:
Freestanding, Low Rise (2-4 storeys), Mixed Use
# Units Total:
14
# of Apartments:
14
# of 1 Bedroom Apartments:
8
# of 2 Bedroom Apartments:
6
Year built:
1983 (Age: 42)
Living Area:
11,969 sq. ft.
Subject Property Depth:
120'
Subject Property Width:
99'½"
Retail Size:
7,754 sq. ft.
Lot Area:
11,761.2 sq. ft.
Zoning:
Potential to Redevelop:
PROVIDES THE FLEXIBILITY TO REDEVELOP OR REPOSITION, No
Fencing:
# Of Parking Spaces - Total:
Road Frontage:
Road Surface:
Paved
Heating:
Electricity:
Yes
Services Connected:
Electricity Connected, Fully Serviced, Sidewalk
Sewer:
Public Sewer
Parcel Number:
006436323
Taxes:
$87,397.64 / 2025
Laundry Facility
No
Separate Water Heater
Security System, Building Security
# Elevators:
1
Water Supply:
Public
Water Rights:
No
Roof:
Potential to Redevelop:
PROVIDES THE FLEXIBILITY TO REDEVELOP OR REPOSITION, No
Env Assmt Phase:
No
Cap Rate %:
Gross Income:
Oper. Expenses:
Other Income:
Effective Gross Income:
Net Operating Income:
Previous Price:
Original Price:
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Listed by Macdonald Commercial Real Estate Services Ltd.
Data was last updated May 24, 2025 at 07:40 AM (UTC)
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