Aldon Apartments

Investment Overview

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