Sold

Marca Court

2085 West 5th Avenue, Vancouver

Apartment Building
21 Suites

SOLD $2,800,000

Overview

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.

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

Summary

Price$3,075,000
Units21
Price/Unit$146,429
Year Built1964
Lot Size100' x 112'
ZoningRM-4
PID011-780-894
Sale Price$2,800,000
Sale Date09/03/2005

Suite Mix

 No. Units
One BedroomNo. Units21

Financials

FinancingClear Title
Assessment 2004
Land
Building
Total
Land$1,351,000
Building$806,000
Total$2,157,000
Taxes 2004
$14,376
Income and Expenses
Effective Gross
Operating Expenses
Net Operating Income
Effective Gross$176,616
Operating Expenses(75,399)
Net Operating Income$101,216
NotesFinancials 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.

For rent roll and income & 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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