multiplex conversion sold with vision, data, and certainty
- Classic house near Broadway
- Sold amid market slowdown
- Clear upside, well substantiated
listing
description
This neoclassical home, located just off the Broadway Corridor, was sold for $2.0 million as a rare multiplex conversion opportunity. With over 4,360 square feet of interior space, lane access, and room for 4–5 parking stalls, the property is ideally suited for a fourplex layout under Vancouver’s Broadway Plan.
Unlike many similar properties that struggled to sell in a slow market, this deal moved forward decisively. Why? Because buyers weren’t guessing — they had clear data.
As listing representative, I compiled structural, mechanical, and roofing evaluations prior to launch and performed a thorough analysis of resale and rental comps for newly renovated homes in the area. I then prepared a highest and best use summary with projected end values — a rare level of diligence in this segment. That clarity helped qualify buyers quickly and enabled the eventual purchaser to waive conditions confidently and on schedule. The result: a smooth sale, a strong price, and a highly compelling project ready for conversion.
investment
thesis
A well-located, character-rich home with RT-5 zoning and Broadway Plan alignment — supported by a full vision for highest and best use. A ready-to-go fourplex conversion with real upside.
policy
context
Zoned RT-5 and located within the Broadway Plan, this site qualifies for ground-oriented multiplex housing at a density of 1.0 FSR and up to three storeys. However, the existing building already exceeds this allowable floor area — meaning that full redevelopment would have reduced buildable density.
Through detailed analysis of the zoning envelope, land use policies, and form guidelines, I was able to demonstrate conclusively that retaining and converting the existing structure represented the highest and best use. This insight provided clarity for prospective buyers and ensured alignment with both policy goals and investment value.
buyer
appeal
The buyer moved forward with confidence due to the rare level of preparation and insight behind this listing. Full third-party reports were completed pre-listing, including structure, mechanical, and roof assessments.
More importantly, I delivered a detailed future-value analysis based on actual resale and rental comparables. This gave serious buyers a clear roadmap — and removed uncertainty that might have delayed or derailed the deal in a softer market. The result: smooth diligence, clean conditions, and a successful multiplex acquisition in a prime Broadway Plan location.
Future-ready multiplex
Pre-listing due diligence
Trusted market comps
specifications
Sold Price: $2,000,000
Lot Size: 4,027.85 SF (33 x 122 ft)
Zoning: RT-5
Year Built: 1908
Total Floor Area: 4,360 SF (plus 400 SF patio/balcony)
Bedrooms/Bathrooms: 12 Bed / 4 Bath
Parking: 4–5 Surface Stalls (Lane Access)
Building Form: Neoclassical/Victorian
Policy: Broadway Plan – Ground-Oriented Residential (1.0 FSR, 3 Storeys Max)
Condition: Fire Safety System, On-Demand Hot Water
Occupancy: Delivered 100% Vacant
Future Use Potential: 4-Unit Multiplex, ~900–1,200 SF per Unit
Valuation Context: Nearby renovated sales: $925–$1,200/SF
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