Clovelly Apartments

2292 West 43rd Avenue, Vancouver

SOLD $1,750,000

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Price$1,795,000

Units12

Year built1954

Lot size69.4' x 120.7'

ZoningRM-3

Price/unit$149,583

Cap rate4.47%

GIM13.16

PID012-423-670, 012-423-688

Legal descriptionLots 1 & 2 of 5 Blk 16 DL 526 Dist 36 Plan 3646

Sale price$1,750,000

Sale date11/01/2002

Overview

Clovelly Apartments is a 12 suite, 2 storey frame plus penthouse located in prime Kerrisdale, situated one block west of Kerrisdale Community Center. In immaculate condition.

Location

Clovelly Apartments is located in the heart of Kerrisdale, at the SE corner of W. 43 Ave. and Vine Street. Situated only one block west of Kerrisdale Community Center.

Improvements

– Wood frame superstucture and part reinforced concrete
– Three storey including penthouse suite
– Gross floor area measuring 14,850 sq.ft.
– Roof is 5-ply built up tar and gravel on shiplap sheeting
– Painted stucco exterior finish: interior is drywall
– Wood frame windows, single glaze
– Hardwood flooring; vinyl in bathrooms and kitchen
– Kitchens equipped with electric stove and refrigerator
– Communal laundry room, two coin-operated machines
– Penthouse bachelor features 20 x 15′ deck
– Large lockers for each tenant
– Bike storage area 20 x 25′
– Five enclosed off-lane parking stalls

Recent Upgrades

– Interior painted (1998)
– Exterior painted (1997)
– New hall carpets (1998)
– Most tubs retiled
– Some piping renewed
– Ongoing replacement of most applicances (last 7-8 years)
– 5 of 12 bathroom vanities replaced

Show less

	No. units
One Bedroom	No. units7
Two Bedroom	No. units4
Penthouse (Bachelor)	No. units1

Financials

Financing	Treat as clear title.
Assessment 2002	Land Building Total	Land$1,002,000 Building$428,000 Total$1,430,000
Taxes 2002	$9,872.09
Income and expenses	Gross income Operating expenses Net operating income	Gross income$136,352 Operating expenses(56,110) Net operating income$80,242

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