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Well-kept Vancouver multi-family asset has redevelopment potential

Built in 1967, Windsor Apartments is eligible for high-density redevelopment
2575-windsor-street-vancouver
Windsor Apartments at 2575 Windsor Street, Vancouver, sold March 31 for $6.6 million.

DEAL | Windsor Apartments, a three-storey multi-family asset with 20 units at 2575 Windsor St., Vancouver, sold March 31 for $6.6 million. The priced averaged $330,000 per unit at a cap rate of 3.2 per cent. The sale price was $500,000 below the list price of $7.1 million. Built in 1967, Windsor Apartments sits on a quarter-acre lot with RM-4N zoning but could be rezoned under the Broadway Plan for up to 20 storeys and 6.5 FSR.

PRICE | $6,600,000

FROM | Mark Goodman, Ian Brackett and Megan Johal, Goodman Commercial Inc.