Fortune House

1010 Howe Street, Vancouver

SOLD $30,000,000

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Price$32,000,000

Units138

Storeys12

Net rentable area84,106 sq. ft.

Year built1984

Lot size120' x 172.5'

ZoningDD

Cap rate3.16%

GIM19.96

Legal descriptionLots 1 - 138, DL 541, Grp 1 NW D S P MS2586

Sale price$30,000,000

Sale date01/01/2006

Overview

Fortune House is a 12 storey strata apartment high-rise located in Downtown Vancouver. Comprised of 130 residential units and 8 retail units with a total net saleable/leaseable are of 84,106 sq. ft.

Location

The subject property is located in the Downtown District of Vancouver on Howe Street and Nelson Street.

Improvements

The improvements on the subject site consist of a 12 storey residential & commercial building above grade and three levels of underground parking structure below grade. The top two floors contain eight luxury penthouse suites. The building is reinforced concrete with exterior brick finish. There are a total of 90 parking stalls.

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	No. units
Residential Units	No. units130
Retail Units	No. units8

Financials

Financing	Treat as clear title.
2005 Income & Expenses	Effective gross Operating expenses Net operating income	Effective gross$1,602,963 Operating expenses(590,456) Net operating income$1,012,507

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