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Highland Apartments

1620 East Pender Street, East Vancouver

Apartment Building
12 Suites

SOLD $890,000

Overview

Highland Apartments is a 12 suite, 3 storey frame apartment building in good condition. Located in the Grandview area; one block south of East Hastings and one block west of Commercial Drive.

Improvements

Built in 1968, Highland Apartments features balconies/patios and hardwood floors for each suite. The property is in a good state of repair, with excellent tenants. There are a total of 9 parking stalls ( 2 secure, 7 open); currently tenants are not being charged any parking fee. Full storage lockers available for each tenant. Washer/Dryer machines owned by building.

Summary

Price$959,000
Units12
Price/Unit$79,000
Cap Rate7.4%
GIM10.4
Year Built1968
Lot Size61' X 132' (8,052 sq. ft.)
ZoningRM-4
PID015-165-558
Sale Price$890,000
Sale Date01/01/2004

Suite Mix

 No. Units
One BedroomNo. Units11
Three BedroomNo. Units1

Financials

FinancingTreat as clear title.
Assessment 2003
Land
Building
Total
Land$543,000
Building$169,000
Total$712,000
Taxes 2003
$5,132.24
Income and Expenses
Effective Gross
Operating Expenses
Net Operating Income
Effective Gross$92,640
Operating Expenses(21,845)
Net Operating Income$70,795
NotesIncome annualized as of December 2003.   For rent roll and financial 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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