flexible income opportunity on east vancouver corner lot
- 4,396 SF corner lot
- vacant possession available
- 4.40% cap rate
listing
description
3008 Clark Drive presents a rare opportunity to acquire a fully upgraded, small-scale multiplex in East Vancouver with immediate income performance and long-term strategic potential.
Positioned on a 4,396 sq ft corner lot in a quiet, evolving neighbourhood, the property includes three vacant residential units, allowing new ownership to lease at full market rents from day one. The projected net income of $88,000 per year supports a strong 4.40% cap rate — a standout return for a clean, well-located asset with no deferred maintenance.
The building includes two large 2-bedroom-plus-flex suites (approx. 940 sq ft each) and one self-contained studio (approx. 450 sq ft), all modernized with thoughtful upgrades including individual metering, fire sprinklers, updated mechanical systems, and energy-efficient heating. Operational simplicity and tenant desirability are built in.
The property’s unique orientation on a corner site ensures unobstructed, north-facing mountain views, enhancing rental appeal and long-term retention. Its RT-2 zoning supports duplex and infill development today, while future transit-oriented policy evolution may unlock additional density.
Whether acquired for stable cash flow, multi-generational living, or future redevelopment, 3008 Clark Drive offers a rare combination of yield, flexibility, and location.
investment
thesis
3008 Clark Drive offers a rare opportunity to acquire a fully renovated East Vancouver multiplex with immediate income strength and future upside. With all three units delivered vacant, new ownership can capture full market rents from day one, supporting a projected net income of $88,000 per year and a strong 4.40% cap rate.
Positioned on a prominent corner lot in a rapidly evolving neighbourhood, the property combines stable near-term cash flow with longer-term redevelopment potential under Vancouver’s expanding missing middle and transit-oriented land-use frameworks.
This is a turnkey investment with both short-term performance and strategic value growth.
policy
context
Located just outside The Broadway Plan, this property’s RT-2 zoning offers significant flexibility, supporting duplex and infill housing redevelopment and increased density through potential land assemblies. Located on a prominent corner site, 3008 Clark Drive is strategically positioned for future redevelopment or as part of a larger land assembly, aligning with city-wide efforts to densify transit-accessible neighbourhoods.
Given the city’s evolving land-use policies prioritizing density near transportation corridors, early investors can capitalize on future planning opportunities by acquiring well-located, versatile sites like this one.
buyer
appeal
Perfectly suited to investors, multi-generational families, or owner-occupiers, 3008 Clark Drive offers immediate vacant possession for maximum leasing flexibility or personal use. Investors benefit from stable cash flows, low operational costs, and flexible redevelopment potential. With growing demand for rental homes offering work-from-home flexibility and storage, this property directly appeals to East Vancouver’s core tenant demographic.
Vacant Possession Available
Corner Assembly Potential
RT-2 Redevelopment Options
Demographics
within a 1km Radius
Median Age: 36.6 (young professionals, small families)
56.3% Renters (strong, consistent rental demand)
Median Income: $95,710 (affluent renter pool)
Avg. Household Size: 2.4 (ideal for small families)
16% Remote Workers (demand for home offices)
45.6% University Graduates (sophisticated, stable tenants)
gallery
of images
4.40% cap rate
4,396 SF strategic corner lot
56.3% renters, high demand
specifications
Address: 3008 Clark Dr, Vancouver, BC
Price: $1,999,900
NOI: $87,953
Cap Rate: 4.40%
Lot Size: 4,396.17 sq ft (corner lot)
Zoning: RT-2
Total Units: 3 (2 x two bedroom plus flex, 1 x studio w/ separate entrance)
Gross Floor Area: Approx. 2,780 sq ft
Residential Area: Approx. 2,330 sq ft
Year Built: 1955 (extensively updated)
Parking: Street parking (permit-free)
Property Taxes (2024): $1,677.00
BC Assessed Value (2024): $1,833,700
PID: 009-857-753
Legal Description: LOT C, BLOCK 171, PLAN VAP8977, DISTRICT LOT 264A, NEW WESTMINSTER LAND DISTRICT, OF LOT C