east van multiplex potential, delivered with neighbourhood insight
- legal duplex converted to fourplex
- fully renovated, turn-key asset
- backed by local expertise
project
description
This stunning fourplex at 1354–1356 East 16th Avenue was a prime example of Vancouver multiplex living — before multiplex zoning was even approved. Originally two side-by-side duplexes, each unit had been fully renovated and reconfigured into a clean, modern, four-suite income property, with 2-bed units, in-suite laundry, new kitchens, and updated mechanical systems throughout.
Located steps from the Knight and 16th node, this is a pocket of East Vancouver that’s undergoing steady intensification — and this deal proved it. As the buyer’s representative, I conducted a detailed rental rate analysis, including benchmarking against a brand-new purpose-built rental just blocks away. This gave my client real clarity on potential upside and stabilized yield — not just a gut feeling or broker talk.
That local intelligence made all the difference. It helped us confidently evaluate cash flow, stress-test rent assumptions, and understand the long-term play — something that’s especially critical in East Van, where older stock, high prices, and evolving zoning policies intersect.
This was also a chance to work through a common challenge: unauthorized suites. The property had a clean presentation, but not every unit was formally permitted. Rather than ignore the issue, we factored it into the analysis — weighing current use, risk exposure, and potential for legalization under Vancouver’s new multiplex zoning adopted in 2024. That transparency helped ensure my client moved forward with full awareness and no surprises.
For residential investors and small developers, this is the kind of deal that matters: a real, revenue-generating fourplex, with strong fundamentals, great renovations, and proven demand — backed by detailed neighbourhood-level insight.
investment
thesis
A fully renovated fourplex in a high-demand East Vancouver neighbourhood, acquired at stabilized pricing with upside in rents, future multiplex eligibility, and long-term hold value.
policy
context
Zoned RT-10 and located within Vancouver’s Grandview-Woodland–adjacent multiplex eligibility area, this property is now formally aligned with citywide missing middle policy. The form and lot size meet key requirements for as-of-right multiplex use, offering stability and increased legalization opportunities under current regulations.
buyer
appeal
The buyer — a busy professional seeking a stabilized, long-term income property — trusted my ability to pre-screen options and bring forward only viable choices. With unauthorized units, price pressure, and competing listings nearby, it was my rental comp analysis, understanding of future zoning implications, and local knowledge that made the difference.
Legal duplex converted to 4-plex
Located in proven multiplex corridor
Informed by hyperlocal rental comps
specifications
Sold Price: $2,320,000
Total Units: 4
Suite Mix: 4 x 2-Bedroom
Lot Size: 6,053 SF
Rentable Area: 3,660 SF
Year Built: 1977
Year Renovated: 2017
Parking: Carports + Unrestricted Street Parking
Zoning: RT-10 (Multiplex Eligible)
Property Type: Legal Duplex with Unauthorized Conversion
Legal Description: Strata Lot 1 & 2 Plan VAS488 District Lot 301. Together with an interest in the common property in proportion to unit entitlement.
PIDs: 004-134-885, 004-134-877
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