1285 East 27th Street, North Vancouver

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   RENT ROLL, STATEMENT & SITE PLAN

Location
The subject property is located in the District of North Vancouver, on the south side of East 27th Street across from the library and Lynn Valley Shopping Centre. Mountain Highway is just steps to the east and offers major north-south transportation, while the Upper Levels Highway provides east-west transportation with Lynn Valley Rd intersecting both routes. The area is characterized by single-family dwellings and multi-family developments with excellent access to urban amenities including public transportation, shopping and schools.

Improvements
The subject is a two storey wood-framed triplex with wood siding & asphalt shingles. The suites feature similar floor plans with newer standard appliances in the kitchen, arborite counters and linoleum flooring, living room with carpeted floors, eating area, 3 bedrooms up, 2 piece and 4 piece bathrooms, single glazed windows and all electric baseboard heating with gas fireplace. The asphalt (mansard) is approx 3 years old and torch-on (top) roof approx. 8 years old. Each unit is separately metered for gas and electricity, has its own laundry, dishwasher and hot water tank. There are three open parking stalls located in front of a 8303 sq. ft. north facing lot. The building shows extremely well with no deferred maintenance.

Recent Upgrades
-New torch-on flat roof - $13,000 (2000)
-New mansard duroid roof - $8,100 (2005)
-Unit 1289 completely renovated - $19,000 (2003)
-Unit 1287 completely renovated - $24,000 (2007)


Rent Roll & Statements
For current rent roll, statement & site plan, please see the attached PDF file above.

Built in 1972, the subject property is an attractive and exceptionally well maintained two storey wood-framed triplex located in the Lynn Valley neighbourhood of North Vancouver. Each self contained unit features 3 bedrooms totalling approximately 1300 sq. ft., 5 appliances, parking, in suite laundry and fenced back yard. Tenants pay for individual gas & electricity. Low maintenance property with many upgrades and improvements. The subject lends itself well to future development opportunities as evidenced by Polygon Development's new Branches condo project now under construction in Whitely Court, half a block to the west.SOLD $1,050,000

Civic Address: 1285 East 27th Street, North Vancouver
Legal Description: Lot 4, Block W District Lot 2022, Plan 13960
PID: 007-986-882
Lot Size: 62' x 133.72
Zoning: RM-3
Assessment (2008):
Land:
   $693,000.00
Building:
 $179,000.00
Total:
   $872,000.00
Taxes 2008: $5,561.12
Age: 1972
Income and Expense:

Annualized as of Oct. 2008
Effective Gross
$57,060
Expenses
$10,696
NOI
$46,364
Financing: Clear Title.

Asking Price: $1,095,000.00







David Goodman 604.714.4778
Mark Goodman 604.714.4790

Macdonald Commercial Real Estate Services
301 - 1770 West 7th Avenue Vancouver BC V6J 4Y6
Phone: 604.736.5611 Fax: 604.736.7976
www.goodmanreport.com

Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.