DEAL | A 0.33-acre corner lot on Kitsilano Point with waterfront exposure sold June 21 for $12.8 million. A rare opportunity with an approved development permit, the RT-9 zoned property at 1000 Cypress Street is currently improved with an eight-unit townhouse-style apartment building built in 1972. The sale price works out to $1.6 million per unit. A comprehensive Tenant Relocation Plan is in place should redevelopment proceed, however, the existing building could generate $170,000 in net annual income if vacant and leased at market rates.
PRICE | $12,800,000
FROM | Mark Goodman and Ian Brackett, Goodman Commercial Inc., with Kris Pope, Dexter Realty
