The Cambie Apartments

2930 Cambie St, Vancouver, BC

Participate in the ownership of a newly renovated and fully occupied 19-unit multifamily apartment building in the Vancouver Broadway Corridor that integrates heritage elements with modern features.

The Plan: Acquire, hold and maintain this recently renovated building in the heart of Vancouver. With 100% occupancy and modern upgrades, this property looks to appreciate within a vibrant, growing community.

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*No distributions are expected during ownership, but if they occur, they are split 80% to investors and 20% to GP if the cash reserves and capital plan allow for it.

**This is the day when we issue a distribution, or the property exits — aka cash earned from doing zero things, aka #passiveincome. For this property, there is predicated to be 1+ Owners’ Days.

The Reel

The Cambie Apartments in Vancouver, BC is a historic building in the heart of the city. Built in the 1920s this 19-unit rental building is fully renovated, mixing modern elements with heritage themes. Take a look.

We highlight the pros and cons of addy’s latest commercial real estate investment opportunity. Located in Vancouver, The Cambie Apartments are dropping soon on our crowdfunding platform.

Estimated Returns

The information presented below represents expected results of a $1,194,650 maximum offering and may not reflect actual results. The expected return (IRR and ROI) based on your investment amount can fluctuate up or down based on many factors. Please review the entirety of the Offering Memorandum and understand the risks stated in “Item 8 – Risks Factors”. You are not liable beyond your investment amount.

The Gram

the highlights ✨

  • Features 19 residential units comprising studios, jr. one-bedrooms, one-bedrooms and two-bedrooms apartments.
  • As of this writing, all units are fully occupied. Sought-after building in a popular location suggests consistent occupancy.
  • Constructed in 1926. First and only renovation conducted in 2017 by Haeccity Studio Architecture.
  • Renovations aimed to preserve the heritage elements, including hardwood floors in the hallways and signature fixtures.
  • Plaster on lathe, inlaid oak flooring, cast iron tubs and wood panel doors were all refurbished in place. Damaged areas were removed, stored and upcycled into new installations.
  • Modern stairway and lobby was created to improve accessibility and safety.
  • Individual bike storage is available.
  • Renovations include transformations of old fixtures: pre-electric iceboxes were made into workshop cabinets; concrete laundry sinks morphed into planters; custom furniture was crafted from old-growth Douglas firs.
  • Preserved heritage elements include cast iron furnace doors, single-hung window weights, antique lock sets, brass doorknobs and doorbells.
  • Upgrades and improvements include new bathrooms and kitchens. Units each feature a fridge, convection microwave, cooktop, dishwasher, washer and dryer.
  • All suites feature open floor plans.
  • All appliances and electrical and plumbing fixtures are brand new and energy-efficient. Power and telecommunications grid is modernized and upgraded.
  • Accessible via keyless entry.

WHY WE LIKE THIS PROPERTY

About Neightbourhood

  • Located in the heart of Vancouver’s Cambie Corridor and the western boundary of the Mount Pleasant neighbourhood.
  • Within three blocks of the Broadway & Cambie Skytrain station with convenient access both North and South to the downtown core and YVR Airport via the Canada Line.
  • Transit offers easy travel to major universities.
  • Allows for convenient walking to a range of grocery, restaurant and retail shopping including the City Centre Shopping Mall.
  • Close to green spaces, waterfront and popular recreation areas including Major Matthews Park, Mount Pleasant Park and Heather Park.
  • Vibrant area with mix of residential homes, independent shops, recreation and culture.
  • Walk Score: 92. Bike Score: 96.

About Vancouver Real Estate Market

  • Between 2020 and 2021, the vacancy rate in purpose-built rentals fell from 2.6% to 1.2%, but rental unit turnover climbed by 2.1%.
  • Between 2020 and 2021, the average rent for a two-bedroom unit in a purpose-built rental building climbed last year to $1,824, while the average rent in a two-bedroom condo was up to $2,498.
  • According to Rentals.ca, a one-bedroom apartment cost $2,239 per month in February 2022, up 14.7% year over year.
  • For two-bedroom units, landlords were looking for $3,050 per month, up 17.62% from what was asked for in listings posted in February 2021.
  • At the moment, Vancouver is the most expensive rental market in Canada, overtaking Toronto.
  • According to the Real Estate Board of Greater Vancouver, sales in March 2022 totalled 4,344, a 27% increase from 3,424 homes sold in February 2022, and a 24% decrease from the 5,708 sales recorded in March 2021.
  • The benchmark price for all residential properties in the area sat at more than $1.3 million in March 2022, a 20.7% increase from March 2021 and a 3.6 % increase from February 2022.

Location

Click here to view location on Google Maps

About Provincial Residential Market

  • The average home price in BC reached $1.096 million in March 2022, a 15.7% increase from the average price of $946,813 noted in March 2021.
  • According to the British Columbia Real Estate Association, the total of 11,464 residential unit sales were recorded by the Multiple Listing Service (MLS). This is a 24.1% decrease March 2021.

General Partner Type

Established

These General Partners have 7+ years of experience and have owned and/or operated real estate in excess of $30M+ in asset value. These partners are generally seasoned in the industry and have a track record of successfully managing small to mid-sized real estate projects. (Learn more).

Meet The General Partner

Keith Roy is a dad, husband, realtor, real estate trainer, apartment building owner. He has been selling real estate in Vancouver for 16 years. Born in Vancouver and raised around BC, he graduated from high school at Vancouver College, holds a BA in political science from the University of Guelph and a post graduate diploma in Sales and Marketing from the Sauder School of Business at UBC.

Keith is a frequent face in the media, commenting on matters relating to the local and national real estate market, and has been featured in every major Canadian news publication. He is also the host of the iTunes and Spotify podcast, The UnReal Estate Show, which explores the politics and policies of real estate around the globe.As a member of the Professional Conduct Committee at the Real Estate Board of Greater Vancouver from 2014 to 2016, Keith helped oversee and enforce Realtors business practices and behaviours and adherence to the the Canadian Real Estate Association REALTOR Code of Ethics. Keith is a member of the Real Estate Board’s Master Medallion Club for being in the top 10% of Greater Vancouver Realtors for 11 consecutive years. He has also received multiple industry awards including the RE/MAX Diamond award in every full year he’s been with RE/MAX. Keith is also the recipient of the Queen’s Golden Jubilee Medal (2002) and Queen’s Diamond Jubilee Medal (2012) both for community service.Keith is also a sought-after speaker and trainer in the real estate industry, having spoken to agents across Canada and the US as well as Iceland, Turkey, the Netherlands, Chile and Argentina. He specializes in helping other agents build a repeat and referral based business by providing unparalleled service to the people their serve. Keith collects Monopoly boards, vacations in Hawaii and lives in downtown Vancouver with his soulmate Stephanie and their toddler Kai.

The Investment Type

Core Opportunistic Investment Type

Core

Risk profile: 

Conservative

Investor type:

For investors looking to generate stable income with very low risk.

What defines the risk level?  

A Core investment usually requires very little management from owners and are usually occupied with tenants on long-term leases. Core investments are typically acquired and held. This type of investing is as close as one can get to passive investing when buying properties directly.

What our members are saying

“It was an easy way to invest some funds in real estate that I would normally not be able to afford on my own. It’s great to be part of something that is creating a new way of investing.”

Klaus / Toronto, ON

“My wife and I are excited to have discovered addy, and invested in a Starbucks location nearby — it’s nice to be able to participate in owning commercial real estate without putting up a bunch of money, and knowing we can drive by it anytime makes it more fun than buying stocks!” 

Shawn / Nanaimo, BC

“This is God sent, if you ask me. A chance to own a slice of commercial properties all over the country. An opportunity I otherwise wouldn’t have had had it not been for addy. I can’t thank addy enough. I eagerly await for addys to drop and with each investment, I know I’m actively improving my financial future.”

Jocelyn Armah / Google Review

What our members are saying on Discord

“addy is a great platform that allows individuals to break through into the real estate market without having to deal with lawyers, agents, and most of all the rising housing prices. Most importantly, the addy discord provides a great platform for a diverse community to discuss ideas as it relates to real estate and other financial related topics. I have already learned a lot from the conversations and discussions from the Discord to make better informed investing decisions for my future”

$nitintailor / Toronto, ON

“addy has let me get into a market I never thought I could be in! The community in Discord allows me to be connected to others, receive tips and have fun while making investments right for me! Thank you addy!”

$Wanderlust / Vancouver, BC

“Before breakfast and I already bought into a commercial building in Hamilton. No running around looking at buildings or doing due diligence. No extra costs. No trips to the lawyers. This is the world’s easiest way to buy real estate.”

$Cameron / Abbotsford, BC

How Do You Make Money?

You can make money in 2 ways:

  1. Sale of the Property: When the property is sold, any appreciation is paid back to investors in addition to their investment principal.
  2. Rental Income: When tenants pay rent, additional cash flow can be passed back to investors in the form of a distribution.

Details are outlined in the Offering Memorandum for each property.

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