The Caprice
136 East 18th Street

The Offering

Cushman & Wakefield ULC is pleased to present this rare opportunity to acquire a prime North Vancouver apartment building. The Caprice is located in the trendy and highly desirable Central Lonsdale corridor, which is one of Metro Vancouver’s most attractive rental neighbourhoods. The Caprice is situated on a rectangular, 15,823 sq. ft. R5 designated lot. It is currently improved with 29 residential units and is professionally managed.

Investment Highlights

• Future multifamily development designation with added density
• Strong holding income with attractive upside
• Asset rehabilitation and value-add opportunity
• 15,823 SF rectangular lot
• Extremely low vacancy rate: 0.40%
• Premier location near an abundance of amenities along Lonsdale corridor

Central Lonsdale Location

A lively and dynamic mixed-use neighbourhood.

Just 20 minutes from downtown Vancouver.

Central Lonsdale is a rapidly growing mixed-use hub that has attracted the attention of major employers and many residential developers.

The immediate area features favorable rental demographics, vibrant retail off erings, as well as close proximity to Lions Gate Hospital, Capilano University, City Hall, The Harry Jerome Recreation and Community Centre, several parks and main transit lines. 

Future Redevelopment Potential

Superb location perched a half block from Lonsdale Avenue which will off er world class view corridors of downtown Vancouver’s skyline, the Burrard Inlet, and the North Shore mountains.

The Property is designated in the City of North Vancouver’s Offi cial Community Plan (“OCP”) as Residential Level-5 (Mid-Rise Apartment – Medium Density), allowing for a residential apartment development to a maximum 2.60 Floor Space Ratio (“FSR”). The R5 land use designation prescribes a six (6) storey height cap.

Development area of approximately 15,823 sq. ft. would yield a gross site area of over 40,000 sq. ft. after rezoning to the OCP prescribed density.