Limerick Apartments

Constructed in 1973, Limerick Apartments is a well-maintained, three-storey wood-frame rental building comprising 39 suites on a generous 41,368 square foot lot. Over the years, the property has undergone consistent capital upgrades, including roof replacements, suite renovations in nearly all units, a new hot water tank, and refreshed exterior finishes such as tile, concrete, and brickwork. The building was also recently repainted, and all suites are equipped with breaker panels, reflecting ownership’s commitment to upkeep and operational efficiency. Stable in-place income and upside in rents offers an attractive opportunity for investors seeking secure cash flow.

Redevelopment Potential

5450 204th Street offers strong redevelopment potential under the City’s Official Community Plan (OCP), falling within the Transit-Oriented Residential land use designation. This designation is intended to support high-density residential development with limited ground-level commercial uses in areas with strong access to transit. The property is located approximately 550 metres from the future 204 Street SkyTrain Station, placing it well within walking distance and aligning with the City’s vision for compact, walkable communities around high-frequency transit. Under this land use designation, the site is eligible for multi-storey buildings up to 15 storeys, with a density range of 2.5 to 4.5 FAR, subject to bonusing provisions in the Zoning Bylaw. Permitted uses include multi-unit residential and mixed-use commercial-residential projects, making 5450 204th Street a highly strategic opportunity for transit-oriented redevelopment.