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The Caprice

136 East 18th Street, North Vancouver

Apartment Building
29 Suites

SOLD $2,550,000

Overview

The Caprice is a 29-suite apartment building in excellent condition located 1/2 block east of Lonsdale in North Vancouver. It features underground parking, balconies and elevator.

Building Description

The Caprice is a 29-suite, 3-storey frame building with a stucco/cedar exterior with stone trim. Featuring an elevator, balconies and underground secured parking for 24 cars and three surface parking stalls, the Caprice, located in the City of North Vancouver, is only 1/2 a block east of Lonsdale Avenue.

Improvements

The building has experienced an ongoing schedule of improvements including a newer roof and most of the copper piping (6 years ago), mostly new carpets (90%) and appliances (85%) and a new membrane coat over the garage area in 1999, balconies repaired in 2001, a new pump on furnace in 2001, elevator upgrade and a new hot water tank in 2002. The Caprice also has a separate laundry room, storage lockers for tenants and a separate office for caretaker.

Summary

Price$2,650,000
Units29
Price/Unit$91,379
Cap Rate6.6%
Year Built1970
Lot Size115.5 ft. x 137 ft.
ZoningMulti-family (Low Rise)
PID008-529-108
Sale Price$2,550,000
Sale Date01/31/2003

Suite Mix

 No. Units
BachelorNo. Units5
One BedroomNo. Units23
Two BedroomNo. Units1

Financials

FinancingA 1st mortgage of $1,600,000 with Canada Western Bank at 5.5% PI $10,951 a month to year June 2005.
Assessment 2002
Land
Building
Total
Land$1,238,000
Building$773,000
Total$2,011,000
Taxes 2002
$15,328.37
Income and Expenses
Gross Income
Operating Expenses
Net Operating Income
Gross Income$262,860
Operating Expenses(87,000)
Net Operating Income$175,860

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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