A 52-year-old waterfront apartment building in Vancouver’s Kits Point area has been unconditionally sold.

The property was listed for $14.5 million. The final sale price is expected to be released at a later date.

Goodman Commercial and Dexter Realty brokered the transaction. The buyer and seller were not identified.

The 14,256-square-foot apartment building is located at 1000 Cyprus Street alongside Kitsilano Beach. The property’s zoning allows it to be subdivided and redeveloped with three single-family homes, said Goodman. Or, several different configurations could be permitted, including multi-unit housing, two large luxury homes or “one large world-class residence” in accordance with the zoning rules.

The deal was among several multi-family property sales that Goodman Commercial Principal Mark Goodman and his colleague Ian Brackett have listed and sold recently in the Metro Vancouver region.

“All signs point to a healthier, more active business environment,” said Goodman Commercial.

Kris Pope of Dexter also helped broker the Kits Point property sale.

Photo: Courtesy of Goodman Commercial