8580 Oak Street, Vancouver

8580 Oak Street, Vancouver

- Sold by NAI Commercial

SOLD PRICE: $7,300,000
SOLD DATE: SEPTEMBER 11, 2017


Location


Situated in the rapidly developing Marpole community, this property is rated “Very Walkable” (walkscore.com).  Its premium location is just 1 kilometre away from the Canada Line SkyTrain station, providing direct access to downtown Vancouver in half an hour. Tenants enjoy nearby amenities including the new Safeway development, a large theatre in MC squared, bowling alleys, coffee shops, small retailers, and much more.


Building Description


The subject property is a turnkey three storey walk up remodeled to condominium quality standards. Each suite has been redesigned for more efficient floor plans. Updates include: New cabinets, countertops, paint, bathroom vanities, balconies & railings, laminate flooring, replumbed, electric baseboard heaters, and more. Their is seventeen secured underground parking stalls. The building has shared laundry.


The Immediate Development Potential


This property falls within the new Marpole Official Community Plan as designated for a six-storey building. With a 2.5 floor area ratio (FAR), the potential buildable would be a 28,468-sf corner lot. Current developments include across the street and behind the property that are redefining the landscape of the Marpole community.


Property Details
Number of units 17
Lot size 11,387 square feet
Floor area ratio 2.5
Buildable square footage 28,468
Net operating income $223,791.22
Current Zoning RM-3A
Potential zoning Six storeys

Suite Mix
One-Bedroom 8 units
One-Bedroom + Den 1 unit
Two-Bedroom 6 units
Two-Bedroom + Den 1 unit
Three-Bedroom 1 unit
Total 17 units

Property on Map

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.

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