Avesta Apartments

1629 St Georges Ave North Vancouver, BC V7L 3J6

Totally rebuilt luxury 22-suite 5-storey apartment building in Central Lonsdale. It is a live-work-play location that is close to all amenities including groceries, restaurants, pubs, library, parks, the pharmacy and the Lions Gate Hospital.

This property sold out to 1500+ investors! These awesome investments go fast and they are reserved our members.

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Multi-Family Property

Term

5 Years

Estimated distribution schedule

Annually

ESTIMATED INTERNAL RATE OF RETURN (IRR)*

4.45%

*We estimate a 4.45% Internal Rate of Return on this property. The key numbers to explain how we make this estimate are located within your addy account. Investments in this property were restricted to British Columbia, Alberta, and Ontario residents. Qualified members could invest from $1 and up to $1,500.

The pics

Property highlights

  • 9,299 SF RM-4 zoned lot
  • 22 large oversized units with contemporary high-end suite design feature new flooring, rebuilt kitchens and bathrooms, modern appliances (including in-suite laundry, microwaves and dishwashers) and open concept floor plans with lots of natural light
  • 11 one bedrooms averaging 605 SF
  • 10 two bedrooms averaging 856 SF
  • 1 two bedroom + den totaling 1,180 SF
  • Surface parking, secure storage for tenants (21 lockers), bicycle storage, and balconies
  • Electric heat paid by the tenants
  • Extremely convenient location with public transit, shopping, entertainment and various amenities along Lonsdale Avenue close by
  • Rebuilt in 2013
  • 100% occupied

Investment Type: Core

Risk profile: 

Conservative

Investor type:

For investors looking to generate stable income with low risk.

What defines the risk level?  

A Core investment usually requires very little management from owners and are usually occupied with tenants on long-term leases. Core investments are typically acquired and held. This type of investing is as close as one can get to passive investing when buying properties directly.

Meet our Partner: Avesta GP Ltd.

investment committee

Purchase decisions are made collectively by our investment committee and our Board of Directors which has a track record of investing in and managing real estate (learn more here). The Investment Committee for this property includes:

Steve Saretsky
REALTOR | HOST ‘THE SARETSKY SHOW’

North Vancouver is a growing, stable market, with a strong demand for rentals.

Andrew Gaucher
VICE PRESIDENT, MCKINLEY BEACH, GGROUP

The Vancouver market is the unicorn of Canada. It is beautiful, diversified and one of the top places to live on Earth. Owning a small piece of this market should be top of mind for any real estate investor.

TRI QUACH
ENTREPRENEUR | INVESTOR

Turnkey properties are a no brainer!

RAJVINDER KHATAR
RBC EXECUTIVE | ICBC DIRECTOR

Great opportunity to invest in real estate in one of the most coveted areas of the Lower Mainland!

Location

1629 St Georges Ave, relative to downtown Vancouver. 7 minutes to Grouse Mountain, 9 minutes to Capilano Mall, and 18 Minutes to Downtown Vancouver.

1629 St Georges Ave is located in Central Lonsdale neighbourhood, only two blocks east of Lonsdale Avenue just off East 17th Street.

Frequently Asked Questions About This Opportunity

What documents are included in the due diligence within my account?
  • Limited Partnership Agreement
  • Subscription Agreement
  • General Building Condition
  • Environmental Inspection
  • Architectural Drawings
What are the General Partner fees on this deal?

These are the fees the General Partner (GP) charges to find and manage this property:

  • Asset Management Fee: higher of 2.5% of gross rent or 0.35% of capital contribution
  • Acquisition Fee: 1% of acquisition price
  • Management Fee: 3.5% of gross rent
  • Mortgage Guarantor Fee: 0.5%
What is the Offering Memorandum (OM)?

This is the document that addy has pulled together that summarizes the details of this investment opportunity.

How long does it take to invest in this deal through my addy account?

Once you have reviewed all of the due diligence and read the Offering Memorandum (OM) you will need to move your funds over from your wallet and sign the OM. This takes under 8 minutes.

What our members are saying

“It was an easy way to invest some funds in real estate that I would normally not be able to afford on my own. It’s great to be part of something that is creating a new way of investing.”

Klaus / Toronto, ON

“My wife and I are excited to have discovered addy, and invested in a Starbucks location nearby — it’s nice to be able to participate in owning commercial real estate without putting up a bunch of money, and knowing we can drive by it anytime makes it more fun than buying stocks!” 

Shawn / Nanaimo, BC

“This is God sent, if you ask me. A chance to own a slice of commercial properties all over the country. An opportunity I otherwise wouldn’t have had had it not been for addy. I can’t thank addy enough. I eagerly await for addys to drop and with each investment, I know I’m actively improving my financial future.”

Jocelyn Armah / Google Review

How Do You Make Money?

You can make money in 2 ways:

  1. Sale of the Property: When the property is sold, any appreciation is paid back to investors in addition to their investment principal.
  2. Rental Income: When tenants pay rent, additional cash flow can be passed back to investors in the form of a distribution.

Details are outlined in the Offering Memorandum for each property.

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