Multi-family Apartment Investment Opportunity
Villa Marie is a 30-unit multi-family building located on a prime corner lot in the Central Business District of Maple Ridge.
Falling under the Town Centre Area Plan this parcel is zoned RM-3 allowing future redevelopment for high-density apartments with a current 2.2 FSR (excluding balconies, common areas and utility rooms). A minimum height of 5 storeys required and an estimated maximum of approx. 10 – 12 storeys could be achieved.
Meanwhile this is an opportunity to acquire a turnkey well maintained and more importantly well-located cash-generating building.
+ Well maintained units (many upgraded)
+ Good potential for growth
+ Located on a major thoroughfare
+ Major development underway in close proximity
+ Below market rents
+ Wheelchair accessible units
+ Laundry and storage on each floor
+ All suites have balconies
+ Potential to increase density
+ 30 parking spaces off-road (15 covered)
+ Easy access to all amenities including West Coast Express (15-minute walk)
Prime Location | Maple Ridge
This part of Maple Ridge is forecasting rapid growth and various large multi-family developments in the surrounding blocks have been announced recently. With this new focus on redevelopment, there is a rationale for density to increase. Villa Marie is a 15 minutes walk of the West Coast Express, thus giving very easy access to Vancouver’s Downtown core.