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