Aldon Apartments
1742 Pendrell Street, Vancouver, BC
FOR SALE
- Lot Size 8,646 sf
- Storeys 3
- Parking 9 covered stalls and 2 uncovered stalls
- Year Built 1956
- Rental Units 23 (including a penthouse suite)
- Pricing Guidance Contact Listing Agents
Opportunity
The Avison Young Multi-Family Team is pleased to offer Aldon Apartments for sale, a well‑located rental building at 1742 Pendrell Street in Vancouver’s highly sought-after West End.
Positioned on an 8,646 square foot lot on the southside of Pendrell Street, the property features a 66-foot frontage and 131-foot depth. This rare value-add opportunity comprises 23 rental suites across three storeys, including a standout penthouse suite with potential to add a private rooftop terrace or shared rooftop amenity area.
This asset offers a compelling value‑add investment opportunity, thoughtfully priced to enable purchasers to unlock meaningful upside through modernization and operational improvements.
Investment Highlights
Value-Add Potential - The property is positioned as a significant value add opportunity to improve the overall building and rental units
Vacant Units - There are currently 7 vacant units or 30% of the building, allowing for an immediate renovation program and lease up at market rents
Upside in Rents - The current rents remain well below market; turnover and targeted improvements offer a clear path to increased income and value
Premier West End Location - The property is located steps from the Seawall, English Bay, Stanley Park, and Denman Street, supporting long term tenant appeal and asset appreciation
Developed Neighbourhood - The property is neighbouring a brand new rental development and is surrounded by well kept assets, making it an ideal asset to improve for the long term
Due Diligence Reports - Vendor has completed a Phase I Environmental Report and Building Condition Report which will be available for review by prospective buyers
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