Strata Conversion Property
863 E 12th Ave, Vancouver
Sold for $2,000,000
Floor Area
4,360 sq ft
Year Built
1908
Bedrooms
12 Bed, 4 Bath
Zoning
RT-5
Land Area
4,027.85 sq ft
Dimensions
33 x 122 ft
Strata conversion property in Vancouver sold for $2,000,000. This beautiful neoclassical home was built in 1908 and has no heritage designation or restrictions. The home has a finished floor-plan area of 4,287 sq ft with an additional 400 sq ft of patio/balcony space.
A location on the Broadway Corridor means it’s walking distance to amenities and transit. The Broadway Plan allows for ground oriented residential use. This presents an opportunity for a conversion project with 4 units, each with 900 - 1,200 sq ft of floor area.
The quiet north-facing ground floor has large covered patio area. Second and third floor balconies offer shockingly good views of the north shore mountains and the Port of Vancouver. The property also features lane access and paved parking spaces for 4-5 vehicles. Building updates include a fire safety system and high-efficiency hot water on demand. The property will be available 100% unoccupied, giving you the opportunity to choose your own tenants or run a rooming house while procuring permits.
Renovated homes nearby have been selling between $925 - $1,200 per sq ft. This conservatively puts the as-if built value at $4.5 - 5.0 million.
Bring your contractors and designers to create a bespoke residential conversion property with timeless Neoclassical and Victorian architectural style.
Land use
Photo credit: City of Vancouver Broadway Plan Official Community Plan
Uses · Residential
Density · 1.0 FSR
Height · 3 Storey
The Broadway Plan allows for ground-oriented building typologies to provide family-friendly housing within the residential areas. This build form allows for lower density “missing middle” housing options that provide smaller lot redevelopment options.
Residential uses could include duplex, triplex or fourplex. Either strata or non-strata property could be considered.
A maximum FSR of 1.0 is stated in The Broadway Plan. However with the heritage character of the existing building, we can conclude that the current FSR will be preserved.
Buyer to confirm property use with City of Vancouver.
Location
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