2404 Guelph St 20 Unit Apartment Building $4,171,201 USD ($208,560 USD/Unit) 4.84% Cap Rate Vancouver, BC V5T 3P3

Dan Chatfield and Trevor Buchan are pleased to present the opportunity to acquire 2404 – 2420 Guelph Street, (the “Property”), a 17-unit rental apartment building, along with a 3-unit detached home, for a total of 20 rental units, prominently located in Mount Pleasant, one of Vancouver’s top emerging multifamily neighbourhoods.
Standing proudly on the southeast corner of East 8th Avenue and Guelph Street, The Connaught is a distinguished three-and-one-half-storey rental building that showcases rare Edwardian architectural charm. Built in 1912 and meticulously maintained over five decades of ownership, the building rests on a concrete block foundation with three storeys of wood-frame construction. Its striking brick façade is enhanced by large bay windows on both the north and south elevations, while a corniced roofline further
elevates the building’s commanding curb appeal. Situated on an 8,052 SF lot, The Connaught comprises 17 rental suites—15 one-bedrooms and 2 twobedrooms—and is accompanied by a character-rich, three-unit home offering an additional 2 one-bedrooms and 1 two-bedroom suite.
Residents and guests are welcomed through a grand concrete block entryway leading to upgraded main doors and a newly installed enterphone system that connects directly to tenants cellphones. The building is also secured by eight strategically placed surveillance cameras. Inside, the grand foyer and hallways feature elegant wainscoting on both walls and ceilings, complemented by high ceilings and an impressive central staircase providing access to the upper floors. Each suite in both buildings is generously proportioned and filled with natural light, thanks to large windows and tall ceiling heights. Interiors feature original hardwood flooring, with updated bathrooms showcasing vinyl flooring and classic clawfoot tub showers. Kitchens are equipped with gas ranges and ample cabinet space, preserving the building’s heritage feel while offering functional living.
Additional tenant amenities include a dedicated laundry room with one washer and dryer (owned by the building), individual storage lockers, and a shared bike storage area in the basement. The Connaught is heated by an IBC on-demand boiler (installed in 2017), distributing warmth through vintage-style hot water radiators, while the adjacent character home is heated via a natural gas furnace. Electrical service in both buildings is 200 amps, and The Connaught benefits from a new two-ply torch-on membrane
roof installed in 2022, ensuring long-term durability and reduced capital expense risk. The Connaught represents a rare opportunity to acquire a historically significant, well-maintained rental asset in one of Vancouver’s most desirable and evolving neighbourhoods.
The Property is located in Vancouver’s highly desirable Mount Pleasant neighbourhood, just one block north of Broadway and minutes from the vibrant Main Street corridor. Mount Pleasant is a dynamic and inclusive community, known for its eclectic character, evolving urban landscape, and substantial stock of rental housing. The area features a thriving commercial district and has quickly risen to prominence in Vancouver’s culinary scene, boasting acclaimed establishments such as Savio Volpe, Masayoshi, Le Faux Bourgeois, Ama Raw Bar, Zab Bite, and Bravo. Residents enjoy immediate access to a variety of parks and green spaces, including Guelph Park and the locally beloved Dude Chilling Park, offering a peaceful retreat from the city’s fast pace.
With its charming, tree-lined residential streets, boutique shopping, and welcoming atmosphere, Mount Pleasant appeals to a broad demographic. Connectivity to Downtown Vancouver is seamless via Main Street—a cultural hub filled with independent retailers, craft breweries, cafes, awardwinning restaurants, and popular annual events like the Car Free Day Festival. Looking ahead, the area is poised for substantial growth with the introduction of three new SkyTrain stations nearby, including GNW–Emily
Carr Station and Mount Pleasant Station, part of the highly anticipated Broadway Subway Line. This transformative infrastructure—paired with the City’s forward-looking Broadway Plan—will enhance mobility across Metro Vancouver and further elevate Mount Pleasant as one of the city’s most desirable and well-connected neighbourhoods.