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