2855, 2875 & 2931 Mountain Highway

Avison Young is pleased to present the opportunity to acquire 2855, 2875 & 2931 Mountain Highway in North Vancouver (the “Subject Site”). The Subject Site is improved by three low-rise rental apartment buildings providing strong holding income with below market rents which can be significantly increased. Currently there is a high percentage of units being held vacant to provide the immediate opportunity to renovate and lease-up or to relocate tenants from other projects. The Properties are situated on 1.24 acres of medium density development land and under the District of North Vancouver’s OCP the Subject Site is designated as “RES6 - Medium Density Apartment” which allows for a total density of 2.5 times the site area, equating to a potential gross building area of 135,515 square feet. This offering presents an investor / developer with the unique opportunity to turn units over to market rents, further increase rents through a renovation program and redevelop the Subject Site.