An entire city block in Kerrisdale has been put on the market for $28 million, listed at real estate agent HQ Commercial’s website.
The rare listing encompasses an entire city block along the 6300 block of West Boulevard between West 47th and West 48th Avenues in the heart of the affluent and desirable neighbourhood.
According to the listing, the site is made up of three separate lots and currently has five multi-family rental buildings totalling 44 units. The total site size is 31,332 square feet with a development potential of 78,330 square feet.
The lot is zoned C-2 by the City of Vancouver, which means the buyer could demolish the existing buildings and put up a mixed-use development of commercial and residential, up to four storeys in height.
HQ Commercial principal Dave Goodman told CBC that the current owner spent 18 months acquiring five buildings on the site before deciding to sell.
"They are developers. They've made a strategic decision to sell this site. They are involved in other sites," he told CBC.
"They received, I would say, probably a 40 to 50 per cent premium over the value they would have received."
