Goodman Commercial is listing what the company calls an “iconic” four-building heritage multi-family rental property in Vancouver’s Mount Pleasant area for $9.5 million.

The brokerage recently reduced the asking price for the 15-unit property by $500,000 from $10 million. The list price equates to about $633,000 per suite. The property spans 16,962 per square foot. On a square-footage basis, the list price works out to approximately $560.10 psf.

“All four homes are formally recognized on the Vancouver Heritage Register,” said Goodman.

The undisclosed owners have completed a comprehensive restoration program, the company added.

The site is located at 140-150 West 10th Avenue near Vancouver General Hospital, City Hall and the Broadway-City Hall SkyTrain station, as well as the central part of the Broadway corridor.

Goodman said potential value-add opportunities include infill development and a heritage-density transfer to another suitable site, if permitted.

Amenities include parking on a shaded rear parking lot with 10 stalls, including two covered spaces, along with shared-laundry services in each of the four homes.

Goodman specializes in Vancouver-area apartment-building sales and development. Mark Goodman, the company’s principal, and brokers Megan Johal and Ian Brackett, are marketing the property in collaboration with Kris Pope, an agent with Dexter Realty.

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

Pictured: Heritage multi-family rental property for sale in Vancouver’s Mount Pleasant area.

Photo: Courtesy of Goodman Commercial