2045 west 15th avenue

2045 west 15th avenue

2045 West 15th Avenue
4 Unit HRA Development

Completion date: September 2019

This West 15th Avenue project was on an RT zoned site in lower Shaughnessy. The site was a 50 foot by 125 foot residential lot located on a beautiful, quiet tree-lined street near the Arbutus Greenway. The topography represented near ideal development conditions. The existing pre-1940’s building was incrementally taken apart and rebuilt, while retaining its heritage features. The home was raised and repositioned, then reconstructed into a new 2 unit character building with modern open concept interiors. The upper floors were occupied by a 3 bedroom all en-suite executive home and a bright 2 bedroom stratified garden unit below. A brand new 1200 square foot 2 bedroom infill unit was constructed at the rear of the property with an etrance facing the laneway. This was an extremely popular development that sold out within the first 3 months of launching.

Cost

Particular

$2,605,835

Land Cost

$1,800,000

Construction/Soft/ Carrying Costs

$142,590

Broker Commission

$4,548,425

Total Cost

$5,523,600

Sold Price

$975,175

Gross Profit

$1,652,188

Capital Investment

59% ROI