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797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in “Angiolina Court” (Vancouver East) : MLS(r) # R2156206

Posted by Aedis Realty on June 27, 2017
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Chinatown Overview

Vancouver ChinatownCanada’s largest Chinatown, among the largest in North America, is in the City of Vancouver, British Columbia, in the blocks around Main, Pender, and Keefer Streets with the Gastown and Downtown districts to the west, Downtown Eastside to the north, the residential district of Strathcona to the east, and False Creek to the south. Chinatown remains a popular tourist attraction despite the growth of the newer Chinese immigrant business district in the suburb of Richmond south of Vancouver on Lulu Island in the Fraser River. Many affluent Hong Kong and Taiwan immigrants in Richmond have developed successful Chinese businesses in the area now named Golden Village by the City of Richmond, which once proposed the name “Chinatown” only to encounter strong resistance from the original Chinatown in Vancouver and from non-Chinese Richmond residents and merchants.

Asian Influx

The Greater Vancouver Regional District received large numbers of Asian immigrants during the late 20th Century, primarily Chinese, whose population reached 300,000 by the mid-’90s. More immigrants settled in Richmond than in Vancouver Chinatown for its lower costs of living and closer distance to the Vancouver International Airport. The development of suburban Asian shopping districts with plenty of parking space like Richmond’s Aberdeen Centre, visibly impaired the business heart of historic Chinatown.

Decline

Chinatown businesses today consist mostly of working-class retailers, small groceries, tea shops, and souvenir stores. Some restaurants stand out, but there are no longer so many, and their declining numbers brought less foot traffic and nighttime activity than in former times. The 10-percent Chinatown vacancy rate shows the need for a fresh approach to development to replace businesses that have moved to suburban locations, retired, or simply closed. Redevelopment opportunities are clearly present. Chinatown lease rates from $15–30/square foot are the cheapest in the city, much lower than those in Vancouver’s Downtown shopping district.

The Vancouver Chinatown Business Improvement Area

In the 1990s, the Vancouver Chinatown Merchants Association searched for an effective vehicle for projects to revitalize the area. Gastown and Downtown Vancouver had formed business improvement areas (BIAs) with evident success. With the consent and support of merchants and property owners, the association planned to establish a Chinatown BIA.

After several attempts, the association succeeded in winning the community support necessary establish a Chinatown BIA. The Vancouver Chinatown Business Improvement Area (VCBIA) incorporated in 2000 on a model of BIAs successful in other areas of the city to improve Chinatown’s cleanliness and safety, expand and promote its events, and work with media and external partners to make Chinatown popular and prosperous again. A voluntary board of property owners and tenants manages the VCBIA. The city assists with annual funding through a special property tax like a local improvement levy. Each property’s contribution to the annual BIA budget is according to its proportionate share of the total BIA taxable value.

Information Links:

http://vancouver-chinatown.com
http://vancouver.ca/home-property-development/chinatown-revitalization.aspx

Redevelopment Prospects

A new Chinatown business plan now encourages entrepreneurs to move in to rehabilitate storefronts, attract a young crowd, and make visitors more comfortable. Attracted by low rents and heritage buildings, new businesses have moved in with owners in apartments above the shops. Chinatown’s priority now is to attract people of all backgrounds in the belief that non-traditional stores will bring a new flow of energy and income. Commercial activity is increasingly diverse with vintage stores, two art galleries, bars, and now a nightclub at the location of the former Ming’s restaurant, an attempt to bring back some of the nightlife atmosphere of the 1950s and ’60s. The diversity of new shops and businesses has created a new Chinatown image of vibrancy to compete with suburban districts and complement nearby Gastown and Downtown Vancouver.

New Chinatown Live MLS Listings

797 KEEFER Street
Mount Pleasant VE Vancouver V6A 1Y6

$8,900,000
Multifamily beds: 3 baths: 3.0 2,190 sq. ft. built: 1910

Wilder Snail
Prop. Type:
Multifamily
MLS® Num:
R2156206
Status:
Active
Bedrooms:
3
Bathrooms:
3
Year Built:
1910
You know the building, but not the name: Angiolina Court. This iconic Strathcona "Heritage" style building originally built in 1910 has so much character! With 7 residential suites, 1 commercial unit and 2 three-storey plus basement side-by side duplex buildings containing a total of four suites, this building is perfect for an investor or as an owner occupier / family compound. At almost 17,000 sqft in total this property has had many upgrades with most recent being electrical and roof. All suites are fully leased to good quality tenants. Located on McLean Park in the coveted Strathcona neighbourhood between the new hospital, vibrant Chinatown and ever-changing East Hastings. Viewings by appointment only, please do not disturb tenants.
Property Type:
Multifamily
Dwelling Type:
Other
Home Style:
Year built:
1910 (Age: 107)
Total area:
2,190 sq. ft.
Total Floor Area:
2,190 sq. ft.
Total unfinished area:
0 sq. ft.
Main Floor Area:
681 sq. ft.
Floor Area Above Main:
1,042 sq. ft.
Floor Area Below Main:
467 sq. ft.
Basement Area:
0 sq. ft.
Finished Levels:
3.0
Rainscreen:
Bedrooms:
3 (Above Grd: 3)
Bathrooms:
3.0 (Full:1/Half:2)
Kitchens:
1
Rooms:
9
Taxes:
$13,286 / 2016
Lot Area:
6,100 sq. ft.
Lot Frontage:
50'
Lot Depth:
122'
Rear Yard Exposure:
Outdoor Area:
Fenced Yard, Patio(s) & Deck(s)
Water Supply:
Plan:
VAP196
Heating:
Construction:
Foundation:
Basement:
Fully Finished
Roof:
Floor Finish:
Fireplaces:
1
Fireplace Details:
Electric
Parking:
Parking Access:
Exterior Finish:
Title to Land:
Freehold NonStrata
Bike Room, In Suite Laundry, Shared Laundry, Storage
McLean Park
PL VAP196 LT 22 BLK 76 DL 181 LD 36
Floor
Type
Size
Other
Main
Main
Main
Main
Above
Above
Above
Above
Below
Floor
Ensuite
Pieces
Other
Main
Above
Above
Dist to Public Trans:
Dist to School Bus:
2 Blocks
Property Disclosure:
Fixtures Leased:
Fixtures Removed:
Reno / Year:
Partly / 2016
Sprinklers:
No
Smoke Detectors:
Yes
Services Connected:
Electricity, Natural Gas, Water
Listed Date:
Previous Price:
Original Price:
  • Photo 1: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Wilder Snail
  • Photo 2: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Living Room
  • Photo 3: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Living Room
  • Photo 4: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Living & Dining
  • Photo 5: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Dining & Kitchen
  • Photo 6: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Kitchen
  • Photo 7: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Kitchen
  • Photo 8: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Kitchen
  • Photo 9: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Powder Room
  • Photo 10: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Bedroom
  • Photo 11: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Bedroom
  • Photo 12: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Den
  • Photo 13: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Bathroom
  • Photo 14: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Bathroom
  • Photo 15: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Master Bedroom
  • Photo 16: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Master Bedroom
  • Photo 17: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Master Bedroom
  • Photo 18: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Master Bathroom
  • Photo 19: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Exterior Front
  • Photo 20: 797 KEEFER Street in Vancouver: Mount Pleasant VE Home for sale in "Angiolina Court" (Vancouver East)  : MLS(r) # R2156206
    Front Porch
Sutton Grp-West Coast (Brdwy)
Listing information last updated on Apr 25, 2017 7:00 PM
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