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demand for rental units on the West Side and West End is at an all-time high as reflected in the near-zero vacancy rates
Reported West Side Sales ADDRESS LD

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SO

LD

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L SO

LD

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DETAILS

SALE PRICE

1260 Harwood Street Vancouver

• 109 Units • $385,321 per Unit

$42,000,000

1550 West 11th Avenue Vancouver

• 27 Units • $462,963 per Unit

$12,500,000

1609 Cypress Street Vancouver

2181 West 40th Avenue Vancouver

• 16 Units • $598,750 per Unit

• 10 Units • $460,000 per Unit

$9,580,000

Featured Listings

Your Apartment Experts

LD

SO

1333 Jervis Street, Vancouver, BC

2293 West 6th Avenue, Vancouver, BC

>> Highly coveted West End location

>> Prime corner location in Kitsilano

>> Renovated 38-unit apartment building

>> Townhome complex with favourable suite mix

>> $26,000,000

>> $8,498,000

$4,600,000 1617 108 Avenue, Dawson Creek

LD

5.

SO

LD

6.

SO

LD

7.

SO

9827 97 Avenue, Fort St. John

2225 West 8th Avenue Vancouver

• 47 Units • $393,617 per Unit

2265 & 2287 Acadia Road Vancouver

• 14 Units • $446,429 per Unit

$18,500,000

10417 13 Street, Dawson Creek

9819 102 Avenue, Fort St. John

3050 Oak Street Vancouver

• 12 Units • $536,250 per Unit

$6,250,000

2225 West 1st Street, Vancouver, BC

5 Building Apartment Portfolio in BC North

>> Desirable “North-of-Fourth” location

>> Combined 2.55 Acres of land

>> Suite-mix featuring 75% two-bedroom suites

>> Offered at a 6.00% yield

>> $7,998,000

>> $9,975,000

$6,435,000

STEVE FAME

DAN CHATFIELD

PERSONAL REAL ESTATE CORPORATION

8.

D OL

S

LD

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SO

5815 Yew Street Vancouver

8680 Montcalm Street Vancouver

• 83 Units • $481,928 per Unit

• 12 Units • $333,333 per Unit

9820 102 Avenue, Fort St. John

$40,000,000

$4,000,000

604 761 3263 [email protected]

604 318 6313 [email protected]

COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Vancouver, British Columbia Canada V6C 2R6 www.collierscanada.com

JONATHAN GEE

604 781 9865 [email protected]

This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2016. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Vancouver). HL/2017

West Side

West Side Rental Market Overview

Cap Rate VS Price Per Unit FAIRVIEW

VANCOUVER WEST SIDE UPDATE With extremely low vacancy rates, demand for rental housing in Vancouver’s West Side remains strong. Even with an influx of new purpose-built rental development, demand for rental units on the West Side and West End is at an all-time high as reflected in the near-zero vacancy rates and ever-increasing rents. Capitalization rates in the first half of 2017 remain low with multiple sales well below a 3.00% yield. The average price-per-unit across all West Side markets has decreased from the previous year with the exception being in Kitsilano and the West End.

MARPOLE

$500,000

4.00%

$450,000

3.50%

$400,000

3.50%

$300,000

3.00%

$250,000

$300,000

2.50%

$250,000 $200,000

2011

CURRENT & PROPOSED PURPOSE-BUILT RENTAL

2012

2013

2014

Average of Price per Unit

2015

2016

2.50%

$200,000

2.00%

$150,000

1.50%

$100,000

2.00% 1.50% 2011

2017

2012

2013

2014

Average of Price per Unit

Average of Cap Rate

KERRISDALE

2015

2016

2017

Average of Cap Rate

WEST END

$700,000

4.50%

$500,000

4.50%

$600,000

4.00%

$450,000

4.00%

$500,000

3.50%

$400,000

Area

Number of Projects

Number of Units

Average # of Units per Development

Central Cambie Corridor

6

275

46

Coal Harbour

2

397

199

Downtown Central

5

1,111

222

Downtown South/Yaletown

9

1,123

125

Dunbar

1

49

49

Fairview

5

588

118

False Creek North

3

599

200

Granville Corridor

3

253

84

Kerrisdale

2

486

243

Kitsilano

7

362

52

$750,000

Marpole

5

189

38

$650,000

Oak Corridor

2

112

56

$550,000

Point Grey

1

94

94

South Cambie Corroridor

6

431

72

Southeast False Creek

3

316

105

UBC

8

833

104

$250,000

West End

13

2,008

154

$150,000

Total/Average

81

9,226

114

*Source: Urban Analytics

$350,000

3.00%

$350,000

$150,000

With approximately 9,226 rental units, Vancouver’s West Side is home to over 40% of the purpose-built rental developments that have recently completed, are currently being built, or are in the rezoning or development permit stage.

4.00%

$400,000

3.00%

$400,000

2.50%

$300,000

3.50%

$350,000

3.00%

$300,000

2.50%

$250,000 2.00%

$200,000

1.50%

$100,000 2011

2012

2013

2014

Average of Price per Unit

2015

2016

2017

2.00%

$200,000 $150,000

1.50% 2011

Average of Cap Rate

2012

2013

2014

Average of Price per Unit

2015

2016

2017

Average of Cap Rate

KITSILANO 4.00% 3.50% 3.00%

$450,000 2.50%

$350,000

2.00% 1.50% 2011

2012

2013

2014

Average of Price per Unit

2015

2016

2017

Average of Cap Rate

Please be sure to contact us for detailed analysis on Greater Vancouver’s multifamily sector. We are leading the industry in terms of tracking sales, statistics on the rapidly appreciating rental market, historical vacancy and yield data, as well as, confidential off-market sale opportunities exclusively for our clients.

Reported West Side Sales ADDRESS LD

1.

SO

LD

2.

SO

D

3.

L SO

LD

4.

SO

DETAILS

SALE PRICE

1260 Harwood Street Vancouver

• 109 Units • $385,321 per Unit

$42,000,000

1550 West 11th Avenue Vancouver

• 27 Units • $462,963 per Unit

$12,500,000

1609 Cypress Street Vancouver

2181 West 40th Avenue Vancouver

• 16 Units • $598,750 per Unit

• 10 Units • $460,000 per Unit

$9,580,000

Featured Listings

Your Apartment Experts

LD

SO

1333 Jervis Street, Vancouver, BC

2293 West 6th Avenue, Vancouver, BC

>> Highly coveted West End location

>> Prime corner location in Kitsilano

>> Renovated 38-unit apartment building

>> Townhome complex with favourable suite mix

>> $26,000,000

>> $8,498,000

$4,600,000 1617 108 Avenue, Dawson Creek

LD

5.

SO

LD

6.

SO

LD

7.

SO

9827 97 Avenue, Fort St. John

2225 West 8th Avenue Vancouver

• 47 Units • $393,617 per Unit

2265 & 2287 Acadia Road Vancouver

• 14 Units • $446,429 per Unit

$18,500,000

10417 13 Street, Dawson Creek

9819 102 Avenue, Fort St. John

3050 Oak Street Vancouver

• 12 Units • $536,250 per Unit

$6,250,000

2225 West 1st Street, Vancouver, BC

5 Building Apartment Portfolio in BC North

>> Desirable “North-of-Fourth” location

>> Combined 2.55 Acres of land

>> Suite-mix featuring 75% two-bedroom suites

>> Offered at a 6.00% yield

>> $7,998,000

>> $9,975,000

$6,435,000

STEVE FAME

DAN CHATFIELD

PERSONAL REAL ESTATE CORPORATION

8.

D OL

S

LD

9.

SO

5815 Yew Street Vancouver

8680 Montcalm Street Vancouver

• 83 Units • $481,928 per Unit

• 12 Units • $333,333 per Unit

9820 102 Avenue, Fort St. John

$40,000,000

$4,000,000

604 761 3263 [email protected]

604 318 6313 [email protected]

COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Vancouver, British Columbia Canada V6C 2R6 www.collierscanada.com

JONATHAN GEE

604 781 9865 [email protected]

This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2016. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Vancouver). HL/2017

West Side