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1150 Bute Street

Vancouver

Apartment Building
13 Suites

SOLD $3,455,000

Overview

The subject property is an 8 storey luxury concrete strata mid-rise located in Vancouver’s popular West End. Just a few minutes walk to Robson or Davie, grocery stores, downtown shopping, English Bay, Stanley Park and Granville Island Ferries.

Features

-Only two suites per floor, (14 suites)
-Sound resistant, concrete building
-4 appliances, including microwave oven, dishwasher, fridge & stove
-Hardwood Floors (living, dining, halls and bedrooms)
-Security intercom systems with two separate access codes in 2 BD suites
-2 bedroom suites have two full baths
-Views of English Bay
-Each suite has south-west or south-east exposure
-Secured, underground parking stalls & bike storage
-Storage lockers & in-suite storage space
-All suites have balconies
-Video security system
-High-speed Internet access
-Gym amenity room
-Baseboard heating (3 thermostats in ‘A’ suites)
-Bedroom doors are solid wood
-Aluminum ‘Thermobroken’ Windows
-Built-in bathroom vanities
-Maple Veneer Kitchen Cabinets
-Venetian Blinds
-Maple Hardwood Floors in all living areas and bedrooms
-Tiles in Baths and Kitchen
-Washer / Dryer in Basement
-Utilities, cable and internet access not included in rent

Summary

Price$3,600,000
Units13
Net Rentable Area9,675 sq. ft.
Price/Unit$276,923
Year Built1998
PID024-250-244
Sale Price$3,455,000
Sale Date11/02/2005

Suite Mix

 No. UnitsAvg. Sq. Ft.
One Bedroom & DenNo. Units6Avg. Sq. Ft.650
Two BedroomNo. Units7Avg. Sq. Ft.825
StudioNo. Units1Avg. Sq. Ft.350

Financials

FinancingClear title
Assessment 2005
Land
Building
Total
Land$889,000
Building$2,157,000
Total$3,046,000
Taxes 2005
$15,050.15
Income and Expenses
Gross Income
Less Vacancy 2%
Effective Gross
Operating Expenses
Net Operating Income
Gross Income$224,760
Vacancy(4,495)
Effective Gross$220,265
Operating Expenses(68,000)
Net Operating Income$152,265
Notes2005 Proforma

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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