Bridgewater Apartments
8616 Oak Street

SOLD

Cushman & Wakefield ULC is pleased to announce the success sale of Bridgewater Apartments, a professionally managed and maintained 33 suite purpose-built rental apartment building located at 8616 Oak Street, a corner lot which boasts 145’ of frontage along one of Vancouver’s primary arterial routes; Oak Street.

The Property consists of approximately 19,900 square feet of net rentable area built on a 17,110 square foot lot. The suites have had varying degrees of upgrades completed upon turnover that have assisted in the process of adjusting to consumer demands. 

The Property was one of three assets in a portfolio that was being offered by the Vendor. Bridgewater Apartments represented a unique offering to hold as an income producing asset, with future development potential.

Location

Bridgewater Apartments is strategically located in the growing Marpole neighbourhood, which is fuelled by an uptick in urban vibrancy, west coast lifestyle and tremendous connectivity. Marine Gateway, which marked an unofficial opening of South Vancouver’s urban town centre at Cambie Street and SW Marine Drive, is a one-stop destination for all shopping needs. Notable retailers include T&T Market, Shoppers Drug Mart, Winners, TD Bank, CIBC Bank, Dublin Crossing pub, and a Cineplex movie theatre.

New developments resulting from implementation of the Cambie Corridor Plan (2011) along Cambie Street have heavily influenced the character of the area. Marpole features over 800 residential rental units in planning.

Investment Highlights

• Situated on High Exposure Corner Lot
• Exceptional Frontage and Curb Appeal with Stand-alone Future Redevelopment Potential
• Strategically Located With Easy Access to YVR, UBC, Marine Gateway and Downtown Vancouver
• Professionally Managed Asset Providing Secure Income for Investors
• Maintained to an Exceptional Standard of Care with Several Capital Upgrades Completed
• Clear Path to Attractive Income Growth with Apartment and Property Programming Potential