addy members can view the Offering Memorandum and due diligence within their account. Investments in this property are restricted to British Columbia, Alberta, and Ontario residents. Qualified members can invest from $1 and up to $1,500.
A unique opportunity for addy members to own a part of a 100% occupied newly re-built in 2013 twenty-two suites apartment building located at 1629 St Georges Ave North Vancouver, BC V7L 3J6.
The Property is located in the heart of North Vancouver and 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. The Property features spacious floor plans with modern kitchens and bathrooms as well as in-suite laundry. There is immediate access to transit connecting residents to all of North Vancouver and Greater Vancouver.
North Vancouver Multi-Family Investment Opportunity
Estimated distribution schedule
ESTIMATED INTERNAL RATE OF RETURN (IRR)*
*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.
Building exterior and lot
- 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
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 Avesta Apartments
Meet our Partner: Avesta GP Ltd.
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:
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
- Limited Partnership Agreement
- Subscription Agreement
- General Building Condition
- Environmental Inspection
- Architectural Drawings
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%
This is the document that addy has pulled together that summarizes the details of this investment opportunity.
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.”
“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!”
“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.”
How Do You Make Money?
You can make money in 2 ways:
- Sale of the Property: When the property is sold, any appreciation is paid back to investors in addition to their investment principal.
- 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.READ FAQs