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Villa Adnor

2358 York Avenue, Vancouver

Apartment Building
11 suites

SOLD $3,938,000

Overview

Prime Kitsilano! Villa Adnor is a well maintained three storey plus penthouse apartment building located in Vancouver’s extremely popular Kitsilano neighbourhood. Only one block south of Kits Beach, the property features 11 suites including 2 penthouse units with sweeping views of English Bay and the North Shore Mountains.  Ideal for owner-occupier.  Rents significantly below market.

Location

Villa Adnor is situated mid block on the south side of York Avenue between Vine and Balsam Streets in prime Kitsilano. Only one block south of Cornwall Avenue, the waterfront “main drag” which runs parallel to popular Kitsilano Beach coastline and offers stunning views of English bay, the West End’s skyline and the North Shore Mountains. Within walking distance is Kits Beach Pool and Park, a seaside walkway that overlooks the Burrard Inlet, Kitsilano Yacht Club and Point Grey Private Hospital. Various, restaurants, caf�s, amenities and bus transportation are close by along Cornwall and Yew Street —only one block in either direction. 

Kitsilano, especially north of 4th Avenue, is considered one of the most desirable locations in the City of Vancouver to live, with its numerous beaches, parks, recreation centres, retail amenities, movie theatre (5th & Burrard), cafes and its close proximity to Downtown Vancouver and UBC.

Features

  • Wood-frame building with stucco and wood trim exterior
  • Gorgeous sweeping views from penthouse units with oversized patio decks
  • Prime north-of-4th Avenue Kitsilano location
  • Nine of the eleven suites have balconies
  • Beautifully landscaped
  • Hardwood in all suites
  • One washer/one dryer – leased
  • Surface parking for 5 cars
  • Full size locker storage for tenants
  • Gas-fired boiler (approx 2000)
  • Roof (at least 10 years old)
  • Hallway carpets (approx 2007)
  • Ongoing program of maintenance to suites and common areas with many upgrades over the years

Summary

Price$4,000,000
Units11
Storeys3
Price/Unit$363,636
Cap Rate2.6%
GIM25.2
Year Built1959
Lot Size50' x 120' (6,000 sq. ft.)
ZoningRM-4
PID015-097-498
Sale Price$3,938,000
Sale Date04/26/2014

Suite Mix

 No. Units
One BedroomNo. Units9
Penthouse (2 Br)No. Units2

Financials

FinancingTreat as clear title.
Assessment 2012
Land
Building
Total
Land$1,964,000
Building$944,000
Total$2,908,000
Taxes 2012
$11,743.13
Income and Expenses
Gross Income
Vacancy
Effective Gross
Operating Expenses
Net Operating Income
Gross Income$159,033
Vacancy(398)
Effective Gross$158,635
Operating Expenses(52,909)
Net Operating Income$105,726
NotesFor a current rent roll and 12 month expense statement, click here.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

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