2085 West 5th Avenue, Vancouver

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   Rent Roll & 2004 Statement

Improvements
-Balconies or patios for each suite
-Hardwood floors
-12 total parking stalls (6 secure U/P)
-2 locker rooms, workshop & supply room

Recent Upgrades
-Newer intercom
-New furnace (1998)
-New hot water tank (2003)
-Torch on roof (1998)
-New hall carpets (2004)
-Lobby re-tiled with ceramic (2004)
-New wrought iron railings for stairwells (2004)
-Hallways, doors, laundry room and basement repainted (2004)
-New light fixtures in enterance way (2004)
-Installed baseboards in common area (2004)
-10 bathrooms upgraded past 3-4 years

Rent Roll & Statements
Financials include 12 month statement for 2004 and January 2005 rent roll. Please note that rents are approximately 20% below market based on the 2004 CMHC Rental Market Survey. Average Kitsilano 1Br rents are $850/month.

Offers encouraged.

Marca Court is a 21 suite frame apartment building in good condition centrally located in Kitsilano with some excellent downtown & North Shore views. Features hardwood floors, secure underground parking and balconies.

Civic Address: 2085 West 5th Avenue, Vancouver
Legal Description: Lot 37 to 40, DL 526, BLK 245, Plan 590
PID: 011-780-894
Lot Size: 100' x 112'
Zoning: RM-4
Assessment (2004):
Land:
   $1,351,000.00
Building:
 $806,000.00
Total:
   $2,157,000.00
Taxes 2004: $14,376.22
Age: 1964
Income and Expense:

Actual 2004
Effective Gross
$176,616.00
Expenses
$75,399.22
NOI
$101,216.78
Suites: 21 Units
Financing: Clear Title
$/Unit: $146,429.00

Asking Price: $3,075,000.00
Selling Price: $2,800,000.00
Sale Date: September 3, 2005

Suite Mix
21-1Br
21 Total Suites






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.