2426 west 8th avenue

2426 west 8th avenue

2426 West 8th Avenue,
3 Unit New Construction Development

Completion date: February 2018

This West 8th Avenue project was on an RT zoned site in the heart of Kitsilano. The site was a 50 foot by 125 foot residential lot located on a beautiful, quiet tree-lined street, walking distance to West 4th Avenue. The topography represented near ideal development conditions. The existing structure was torn down and rebuilt into a 2 side-by-side 3 bedroom townhomes with a 2 bedroom garden unit below. The building had a traditional craftsman exterior in line with the neighbourhood and open plan concept modern interiors. This was an extremely popular development that sold out before it was launched.

Cost

Particular

$2,183,349

Land Cost

$2,119,896

Construction/Soft/ Carrying Costs

$144,825

Broker Commission

$4,448,070

Total Cost

$5,613,000

Sold Price

$1,164,930

Gross Profit

$1,506,135

Capital Investment

77% ROI