Vancouver Multiplex Arbitrage Analysis
Neighbourhood-by-neighbourhood data on where the value gap between Vancouver land and completed multiplex units creates the strongest development returns.
Vancouver arbitrage by neighbourhood
Vancouver's multiplex arbitrage varies dramatically by neighbourhood. The best opportunities are not in the most expensive areas — they are in transitional neighbourhoods where land is relatively affordable but completed units command strong strata prices due to transit access and amenities.
East Vancouver (Strongest ROE)
Land: $1.5-2.2M | Build: $2.0-2.5M
Units sell: $1.2-1.5M each
Arbitrage: $1.0-1.5M (18-25% ROE)
Westside (Highest Dollar Spread)
Land: $3.0-5.0M | Build: $2.5-3.0M
Units sell: $1.8-2.2M each
Arbitrage: $1.5-2.5M (12-18% ROE)
Best neighbourhoods for arbitrage right now
Renfrew-Collingwood and Hastings-Sunrise lead for ROE because land prices have not yet fully adjusted to reflect multiplex entitlement. Lots that sold for $1.6-1.8M as single-family sites produce fourplexes worth $5.5-6.0M — the market still prices these lots as houses, not as development sites.
Killarney and Victoria-Fraserview offer similar dynamics with slightly lower land costs and strong rental demand from families. South Cambie and Riley Park command premium unit prices but carry higher land costs that compress percentage returns.
The closing window
Vancouver's arbitrage window is gradually narrowing. As completed multiplex projects establish comparable sales, land sellers and their agents are adjusting asking prices upward. Lots that traded at single-family values in 2024 are now being marketed with "multiplex potential" premiums of 10-20%. Acting quickly maximizes the spread.
FAQs
Which Vancouver neighbourhoods have the best arbitrage?
Renfrew-Collingwood, Hastings-Sunrise, and Killarney offer the strongest ROE. Land runs $1.5-2.2M with completed units selling at $1.2-1.5M each.
What is the typical arbitrage spread?
$1.0-1.5M on eastside projects (18-25% ROE), $1.5-2.5M on westside (12-18% ROE) due to higher land costs.
Is the arbitrage window closing?
Gradually. Land sellers are adding "multiplex potential" premiums of 10-20%. Early movers capture the largest spreads.
Calculate your Vancouver property's arbitrage
Enter your Vancouver address to see the gap between current land value and projected completed multiplex value.