2515 west 8th avenue

2515 west 8th avenue

2515 West 8th Avenue,
4 Unit HRA Development

Completion date: December 2017

This West 8th Avenue project was on an RT zoned site in the heart of Kitsilano. The site was a 50 foot by 110 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 pre-1940’s building was incrementally taken apart and rebuilt, while retaining its heritage features. The home was reconstructed into a new 4 unit character building with modern open plan concept interiors. This was an extremely popular development that sold out within the first 3 months of launching.

Cost

Particular

$2,065,658

Land Cost

$1,825,495

Construction/Soft/ Carrying Costs

$142,275

Broker Commission

$4,033,428

Total Cost

$5,511,000

Sold Price

$1,477,572

Gross Profit

$1,307,382

Capital Investment

113% ROI