A 32-unit rental apartment building in Burnaby’s Metrotown neighbourhood sold in May 2026 for $10,500,000.

Key Details:

• Sale Price: $10,500,000
• Price/Unit: $328,125
• Cap Rate: 4.8%
• Number of Units: 32
• Lot Size: 20,569 SF lot

The property at 5087 Irving Street is a three-storey, wood-frame apartment building constructed in 1969, situated on a 20,560 SF corner lot fronting both Irving Street and Newton Street in Burnaby’s Metrotown neighbourhood. The building contains 9 bachelor, 16 one-bedroom, and 7 two-bedroom suites averaging 629 SF, with one level of underground parking and 32 stalls. The net operating income at the time of sale was $500,528, reflecting a going-in yield of 4.77% on the purchase price.

The sale was brokered by Simon Lim, James Lang, and Jessica Hathaway of Colliers, who had marketed the property at an asking price of $12,800,000.

Beyond its income characteristics, the site carries significant redevelopment potential. Under Burnaby’s 2050 OCP draft, the property is designated High-Rise Apartment 1, permitting up to 30 storeys with the ability to increase to 40 storeys through density bonusing — a designation that attracted considerable developer interest during the marketing campaign. The property is within walking distance of both Metrotown and Royal Oak SkyTrain Stations on the Expo Line.

At $328,125 per unit, the sale sits modestly above the Burnaby apartment average tracked on this site, reflecting the transit proximity and redevelopment upside of the Metrotown location.

The property is located in Burnaby, on the north side of Irving Street between Marlborough Avenue and Royal Oak Avenue in the Metrotown neighbourhood.

A single-storey retail building in West Vancouver’s Ambleside Village sold in April 2026 for $9,500,000.

Key Details:

• Sale Price: $9,500,000
• Price/SF: $1,418
• Building Size: 6,700 SF
• Lot Size: 12,109 SF
• Cap Rate: 2.75%

The property at 1802 Marine Drive is a corner site at Marine Drive and 18th Street in Ambleside Village, one of the most tightly held retail corridors in Metro Vancouver. Built in 1966, the single-storey building sold vacant, with the transaction recorded as a fee simple transfer in April 2026. The site is zoned AC2 (Ambleside Centre Zone 2) and falls within the Ambleside Village Centre OCP designation, which supports future mixed-use redevelopment.

The property last traded as part of a two-lot assembly that had been marketed by Cushman & Wakefield as 1802–1814 Marine Drive, a 6,872 SF fully leased retail complex occupied by Sleep Country and S.T. Arts. The sale price reflects the premium that Ambleside commands — Marine Drive has consistently produced some of the highest retail prices per square foot in Metro Vancouver, with recent transactions along the corridor ranging from just under $900 to over $1,900 per square foot.

The property is located in West Vancouver, at the corner of Marine Drive and 18th Street in the Ambleside neighbourhood.

A three-storey mixed-use building at 2231–2245 Granville Street in South Granville has sold for $9,669,021, representing $776 per square foot on the building.

The property was held by the original developer since its construction in 1980 — a tenure of approximately 46 years. It was listed by NAI Commercial at $12,500,000 before being reduced to $10,999,000, and ultimately traded at a further discount after approximately nine months on market.

DETAILS:

• Sale price: $9,669,021
• Price per SF: $776
• Building size: 12,464 SF
• Lot size: 7,200 SF (60′ x 122′)
• Zoning: C-3A
• Year built: 1980
  
  

The building sits on the west side of Granville Street, one lot north of West 7th Avenue, within the Granville/Burrard Slopes Broadway Plan area (Area D). Under the Broadway Plan, the site is eligible for rezoning to up to 25 storeys and an 8.0 FSR, subject to site conditions and protected public view corridors.

The building includes a split-level retail component totalling 6,441 SF leased to six tenants — Macao Imperial Tea, Vancouver Fine Art Gallery, Future Fade Barbershop, Voka Deka Esthetics Salon, Vean Tattoo, and Petley Jones Gallery — along with four one-bedroom residential units on the upper floor ranging from 817 to 904 SF. The property is located approximately 200 metres from the future South Granville SkyTrain station at Broadway and Granville.

Conor Finucane of NAI Commercial acted as the listing broker.

A 14-suite apartment building in North Vancouver’s Lower Lonsdale neighbourhood has sold for $4,700,000, or $335,714 per unit, at a 4.0% cap rate.

Details:

• Sale price: $4,700,000
• Price/unit: $335,714
• Cap rate: 4.0%
• Units: 14 (10 two-bedroom, 4 one-bedroom)
• Lot size: 6,534 SF
• Year built: 1954
• Sale date: May 2026

Known as Stanita Court, the property is a three-storey-plus-penthouse wood-frame building constructed in 1954, situated on a 6,534 square foot lot with 50 feet of frontage on East 6th Street. The unit mix comprises 10 two-bedroom suites and 4 one-bedroom suites. The building includes four surface parking stalls and owner-operated shared laundry.

The property is zoned CD-316 and designated Residential Level 6 under the City of North Vancouver’s Official Community Plan, located in the Lower Lonsdale submarket.

The property was listed and sold by Goodman Commercial.

A development application is advancing through West Vancouver’s approval process that would redevelop the former Trolls Restaurant site at the corner of Bay Street and Royal Avenue in Horseshoe Bay. The proposal calls for a five-storey mixed-use building featuring ground-floor retail, 42 hotel rooms, and a rooftop amenity space — the first significant new visitor accommodation proposed for the village in recent memory.

The applicant, KM 8 Canada Holding Ltd. (represented by Northwest Realty Inc.), is seeking an OCP amendment and rezoning of three consolidated lots at 6408–6418 Bay Street. The combined site totals approximately 18,300 SF and is currently zoned C1. The proposed FAR is 2.4, with a building height of 19 metres and a total gross floor area of roughly 43,000 SF.

The Proposal

The ground floor is designed to activate the Bay Street and Royal Avenue streetscape, anchored by a corner restaurant with operable storefronts opening to the sidewalk. The Spirit Gallery, which currently operates on the site, is envisioned to continue in the western retail bay. A café on the Royal Avenue frontage would serve both hotel guests and the public, with the hotel lobby positioned between the two.

Levels two and three house 33 standard hotel rooms, each with a private balcony and views toward the bay or the landscaped second-floor deck. Level four steps back to reduce massing and contains nine suites — five one-bedroom and four two-bedroom units — designed for flexible short- and longer-term stays. A partial fifth floor provides a rooftop amenity space intended to be open to the community for events and gatherings.

Underground parking provides 43 spaces via lane access off Little Bay, with one additional accessible space at grade for a total of 44 stalls. The zoning bylaw would typically require 66 spaces; staff are supporting a reduction based on the site’s walkability, proximity to transit and the ferry terminal, and a shared parking strategy.

The architect is Yamamoto Architecture Inc., with M2 Landscape Architecture handling landscape design. The building’s exterior expression features cantilevered balconies, board-formed concrete, wood shingles, and fabric awnings.

Status

West Vancouver Council received the report at its May 11, 2026 meeting and is being asked to give first reading to the OCP and zoning amendment bylaws. A public hearing and concurrent development permit meeting are scheduled for June 9, 2026 at 6:00 p.m. at Municipal Hall.

Staff are recommending approval, noting the proposal is consistent with the Horseshoe Bay Local Area Plan’s “Village Heart” designation and Council’s strategic objectives around commercial vibrancy and visitor accommodation near the ferry terminal. Public feedback gathered at two pre-application information meetings in 2025 was described as primarily supportive.