The Garden Manor Apartments is a fully leased 3-storey, 16 suite rental apartment building with underground parking located in East Van. The area surrounding the Property is undergoing a major transformation, attracting a new millennial tenant base, due to the addition of a variety of new craft brewery restaurants, shops, services & a variety of planned developments including; “Ironworks” an office/industrial/retail project on Pandora & Victoria Streets. The Garden Manor has received many recent capitol upgrades including: a full re-pipe, new sliders & windows, updated common areas, exterior paint, landscaping & full complete renovation of 11/16 suites. The offering provides a Cap Rate of 3.27% on the List Price with the ability to increase cash flow & yield by renovating the remaining 5 un-renovated suites & on turnover leasing them at market rents. This corner property also provides future development potential, which could provide for a building up to 6 storeys and a maximum 2.4 FSR.
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