Overview

Highlights

• Brand new, 5-storey, purpose-built, 42-unit rental apartment building
• Favourable unit floorplans
• Elevator accessible
• Reserved tenant parking
• Tenant storage lockers
• Waterfront views
• Assumable CMHC financing

Description

Newmark is pleased to present the rare investment opportunity to acquire 100% interest in an offering located at 365 2nd Street East (“365 Residences”, the “Offering” or the “Property”). 365 Residences is a brand new, 42-suite rental apartment building situated in North Vancouver’s Lower Lonsdale area.

365 Residences is comprised of a five-storey building situated on a 0.28-acre site. The building design offers one-, two- and three-bedroom suites. With its close proximity to Lonsdale Quay and North Vancouver’s popular brewery district, the Property benefits from an abundance of services, amenities, parks, trails and outdoor activities, catering to a North Shore lifestyle of convenience, urban connectivity and outdoor space.

Potential purchasers stand to benefit from the acquisition of a well-capitalized asset with recurring cashflow, income growth and limited capital expenditure requirements, as well as a balanced roster or demand drivers that ensure 365 Residences will remain a sought-after rental complex for years to come.

Offering Process

Prospective purchasers are invited to submit Offers to Purchase on 365 Residences through Newmark for consideration by the Vendor. Please contact the Listing Agent for further information on the Offering. Additionally, for access to the virtual Data Room, please submit an executed standard form Confidentiality Agreement.

Location

365 Residences is ideally located at the heart of Lower Lonsdale, a short distance from Lonsdale Quay. This popular waterfront marketplace features an abundance of retail and restaurant amenities and is adjacent to Waterfront Park on the banks of Vancouver Harbour offers expansive views of Vancouver and the Burrard Inlet, and the SeaBus ferry terminal.

The SeaBus operates every 15 minutes, taking just 12 minutes to travel across the Burrard Inlet between Downtown and North Vancouver. The City is also well-connected to the rest of the Mainland via major thoroughfares like the Trans-Canada Highway, Highway 99 to Whistler and the US Border, Highway 7 to the surrounding areas of Metro Vancouver, and the Lions Gate and Second Narrows Bridges connecting residents to Downtown Vancouver in less than 15 minutes.

The Property’s prime location benefits from convenience and accessibility, combined with the natural beauty and vibrant life of the City of North Vancouver.

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