high-density investment opportunity on vancouver’s kingsway corridor
- Immediate Strong Income
- Assembly Potential
- Major Redevelopment Upside
listing
description
An exceptional opportunity to acquire a prominently positioned mixed-use property along Vancouver’s evolving Kingsway corridor. Originally constructed in 1916 and meticulously updated, this asset offers investors immediate cash-flow potential alongside remarkable redevelopment upside. The building includes 14 renovated studio apartments positioned above 2,287 sq ft of prime ground-floor commercial space, providing reliable income potential.
Miller Block represents an exciting piece of Vancouver’s heritage—free from restrictive heritage designations—offering the flexibility of redevelopment or adaptive reuse. The site enjoys additional passive income through an existing Telus cellular lease, enhancing its financial appeal. With upgraded fire-safety infrastructure, modernized kitchens, and comprehensive interior updates, investors can quickly achieve strong market rents.
Located just beyond the Broadway Plan boundary, this property benefits significantly from nearby high-rise developments, including a 25-storey rental tower by Qualex-Landmark at 702 E 15th Ave, Vancouver. With immediate assembly potential via the adjacent site (773 Kingsway, currently listed by NAI Commercial), strategic investors can capitalize on future densification in this thriving commercial-residential hub.
investment
thesis
Strategically positioned in a corridor undergoing rapid transformation, 767 Kingsway provides strong holding income today alongside significant redevelopment potential tomorrow. The site’s existing vacant possession allows immediate leasing at market-leading rents, generating robust cash flows. Investors also benefit from a rare assembly opportunity with the neighbouring property at 773 Kingsway, allowing potential expansion into larger-scale mixed-use redevelopment.
As nearby projects like Qualex-Landmark’s high-density tower proceed, this block’s redevelopment prospects rise significantly. With a current pro forma cap rate of approximately 4.08%, the investment combines stable immediate returns with substantial future appreciation potential.
policy
context
The site’s C-2 zoning offers attractive redevelopment parameters, supporting mixed-use residential projects with densities ranging from 2.5 FSR (condo) to 3.7 FSR (rental). Positioned just outside the Broadway Plan boundary, this area benefits directly from proximity to major new developments.
The building’s “Neighbourhood Centre” designation under the city-wide Vancouver Plan further enhances long-term density potential, making it an ideal candidate for future land assembly and rezoning efforts.
buyer
appeal
Ideal for urban land bankers, urban land developers, and forward looking investors seeking immediate cash flow and substantial long-term redevelopment potential. Vacant possession provides maximum leasing flexibility, enabling investors to quickly stabilize and enhance NOI. The adjacent property’s availability also presents compelling assembly opportunities, significantly increasing the scale and value of future redevelopment scenarios.
Immediate Vacant Possession
Strong Assembly Potential
High-Density Redevelopment Upside
Demographics and trends
Population Growth & Urban Density: Population projected to grow steadily at 1.11% annually, driven primarily by young professionals.
Increasing Affluence: Median household incomes rising significantly (+52%), creating sustained demand for quality rentals.
High Demand for Rental Housing: Renter population approaching 56% by 2029, intensifying demand for high-density, mixed-use rental properties.
Aging Housing Stock: Majority of homes built before 1980, underscoring the pressing need for modern residential developments.
Small Households & High Demand: Approximately 70% of households are one- or two-person, ideal for studios and one-bedroom units.
Multicultural Market Needs: Growing immigrant populations (Chinese, Filipino, South Asian communities) require culturally sensitive housing offerings.
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of images
20 storeys under the vancouver plan
22,263 SF buildable under C-2
4.08% cap rate
specifications
Address: 767 Kingsway, Vancouver, BC
Lot Size: 6,014.19 SF (approx. 49.5’ x 122’)
Zoning: C-2 (Commercial mixed-use)
Current Building Size: Approx. 6,900 SF Gross
Year Built: 1916 (extensively upgraded)
Residential Units: 14 Studio Apartments
Commercial Space: 2,287 SF (BOMA standard)
Parking: 3 Stalls (rear), ample street parking
Telus Tower Lease: Additional passive income
Property Tax (2024): $1,677.00
Assessed Value (2024): $4,439,000
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. (PID 015-615-791)