Miller Block · Mixed-Use Building
767 Kingsway, Vancouver
Listed for $4,698,000
Photo Credit: Jim Walton (1954), VPL 82656. Photo Credit: Rob Atkins.
14
Apartment Units
2,287 sq ft
Commercial Space
3.40%
Cap Rate
1916
Year Built
6,014 sq ft
Lot Size
The Description
An exceptional opportunity to acquire a well-maintained mixed-use property in a high-demand Vancouver location. Built in 1916 and extensively updated over the years, this income-generating asset features 14 studio units above 2,287 sq. ft. of ground-floor commercial space. With a gross building area of approximately 6,900 sq. ft., this property sits on a 6,014.19 sq. ft. lot (approx. 49.5’ x 122’), offering a strong foundation for investors and developers alike.
Miller Block provides an opportunity to be a part of Vancouver’s evolution. The building stands as a testament to the city’s transformation from a postwar urban centre into the modern metropolis it is today. Photographs from the 1950s showcase its place in a city on the rise, amidst a skyline that has continued to evolve. As Vancouver embraced mixed-use urbanism and densification, properties like this one have remained at the heart of its growth, bridging the past with the future. Today, with rezoning opportunities and evolving land-use policies, this site presents a rare chance to participate in the next chapter of the city’s development story.
The property has been enhanced with modern upgrades to improve functionality and appeal:
Fire Sprinkler System: Provides enhanced safety and significantly lowers insurance costs for owners and tenants.
Renovated Kitchens: Updated with modern appliances and finishes, ensuring tenant satisfaction and increasing rental value.
Kitchen Ventilation: Galley kitchen hood fans vent directly to the exterior, improving air quality and meeting residential housing requirements.
Telus Tower Lease Revenue: The property benefits from existing Telus cellular infrastructure, generating additional passive income for the owner.
Heritage Appeal without Protected Status: Blending historic charm with modern potential, Miller Block offers a distinctive character that enhances the neighbourhood while remaining unencumbered by heritage restrictions, allowing for greater flexibility in redevelopment or adaptive reuse.
Unique Possession Opportunity: Available with an extremely unique possession status, providing maximum income and complete flexibility for new owners. Inquire for details.
Positioned in a growing commercial and residential corridor, this property offers unparalleled upside for developers and investors looking to capitalize on Vancouver’s dynamic real estate market. Contact Seth Baker today for more details on this rare offering!
The Units
The Numbers
$4.7M listing price ($780 per sq ft of land)
3.40% projected cap rate (based on pro forma income)
14 residential units plus 1 large ground floor commercial
4 studio units with shared kitchen and private bathrooms
10 studio units with private kitchens and private bathrooms
2,287 sq ft of commercial space (BOMA standard)
6,900 sq ft approximate gross building area
1916 year of construction
6,014.19 sq ft lot size
49.5’ x 122’ approximate lot dimensions
C-2 zoning
3 parking spaces on laneway with extensive street parking on E 16th Ave
$4,439,000 BC Assessed Value (2024)
$1,677.00 Property Taxes (2024)
The Strategy
Zoned C-2, allowing for significant redevelopment opportunities. Mixed-use strata condos: Up to 2.5 FSR, yielding a maximum buildable area of 15,035.48 sq. ft. Mixed-use rental building: Up to 3.7 FSR, allowing for up to 22,263.6 sq. ft. of buildable space.
Immediate development potential with neighbouring 773 Kingsway listed at $4,200,000 by NAI Commercial, presenting a potential assembly opportunity.
Qualex-Landmark has a 25-storey rezoning application at 701 Kingsway. Proposal is within the Broadway Plan and appears to comply with OCP guidelines, making development approval likely. The long term future of the 700 block of Kingsway could be open for creative interpretation.
Available with extremely rare and unique possession options which allow for maximum cash flow and buyer control over tenant selection.
Pro forma financials show a conservative Net Operating Income of $157,388 for a cap rate of 3.40%. Please call or inquire for more details about income projections.
Strategic investment for investors and developers looking to hold for future high-rise development and further assembly along the Kingsway Corridor.
The Location
Address · 767 Kingsway, Vancouver, BC, V5V 3C2
PID · 015-615-791
Legal Description · LOT 22 BLOCK 90 DISTRICT LOT 301 PLAN 187 HERETO IS ANNEXED EASEMENT 440137M OVER THOSE PORTIONS OF LOT A INCLUDED IN EXPLANATORY PLAN 9197 OF LOT 23, PLAN 732.
The Trends
Population Growth & Urban Density
Population increasing from 27,291 (2019) → 30,244 (2029) (1.11% annual growth).
Young professionals (25-44 years) remain the dominant age group.
Rising Household Income & Affluent Renters
Median household income: $78,140 (2019) → $118,862 (2029) (+52% increase).
Households earning $200,000+ nearly tripling from 11.5% (2019) to 25.9% (2029).
Strong Demand for Rental Housing
Renter share of the population will hit 55.5% by 2029.
Majority of rental housing is in low-rise apartments (67.5%), indicating opportunity for higher-density, mixed-use developments
Aging Housing Stock – Redevelopment Opportunity
Over 50% of existing homes were built before 1980.
Only 1.5% of housing stock is post-2021 construction, highlighting the need for new, modern development
Smaller Households Dominating Demand
Single-person & two-person households make up nearly 70% of all households.
Average household size remains stable at 2.3, reinforcing demand for 1- and 2-bedroom apartments
Multicultural Growth & Diverse Market Needs
Immigrant population increasing from 34.5% (2019) to 38.95% (2029).
Major languages spoken after English: Cantonese (25%), Tagalog (14%), Vietnamese (9%), and Punjabi (3.8%).
Chinese, South Asian, and Filipino communities drive market preferences, requiring culturally attuned housing options
The Broker
Get in touch by phone/text, email, or submit the form for more information..
Seth Baker, CCIM
Managing Broker & Owner
Related Resources
Related Properties
