Goodman Commercial is listing an older apartment building on Vancouver’s west side for $42 million.

The final price for the 69-unit Georgian House in the affluent Kerrisdale area could help set a benchmark for apartment buildings of similar vintage as investor attitudes are changing amid anticipated rate cuts.

A completed deal could also provide new market intelligence specific to Kerrisdale, an affluent neighbourhood that contains a number of older apartments, along with insights into the cost of infill development plays. The 12-storey building was constructed in 1960.

The units include 14 bachelor suites, 54 one-bedroom apartments and a two-bedroom penthouse suite. Amenities include a laundry room, a workshop and an outdoor swimming pool.

The 36,136-square-foot site is located at 5450 Vine Street and offers 248 feet of frontage and 12,375 sf of existing infill development land.

Goodman specializes in Vancouver-area apartment-building sales and development. Mark Goodman, the company’s principal, and Ian Brackett, a senior broker with the firm, are marketing the property.

The listing promotes the well-maintained site as an infill development opportunity.

Photo: Goodman Commercial