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Fortune House

1010 Howe Street, Vancouver

Apartment Building
130 Residential & 8 Commercial Units

SOLD $30,000,000

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.

Summary

Price$32,000,000
Units138
Storeys12
Net Rentable Area84,106 sq. ft.
Cap Rate3.16%
GIM19.96
Year Built1984
Lot Size120' x 172.5'
ZoningDD
Sale Price$30,000,000
Sale Date01/01/2006

Suite Mix

 No. Units
Residential UnitsNo. Units130
Retail UnitsNo. Units8

Financials

FinancingTreat 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 HQ Commercial.

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