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Osler Manor

8678 Osler Street, Vancouver

Apartment Building
15 Suites

SOLD $1,800,000

Overview

Osler Manor is a 15 unit low-rise apartment building in great condition located in Marpole. Built in 1959, the property features attractive landscaping, hardwood floors, storage lockers, balconies, parking and a penthouse suite with views. Rents significantly below market average.

Location

The subject property is located in Marpole on the east side of Osler St, 1/2 block south of West 70th Ave. and one block west of Oak St. Easy access to Richmond and YVR. Conveniently situated near shopping on Granville & Oak St. with access to major bus routes (bus line on 70th Avenue and Oak Street).

Improvements

– Beautifully landscaped
– Attractive lobby and entranceway (garden)
– 6 suites have balconies
– 8 rear parking stalls
– Full size lockers for all suites
– Hardwood floors (beautifully restored)
– Annunciator panel in meter room
– Penthouse suite with views
– 1 washer / 1 dryer leased from Engs

Recent Upgrades

– New hot water tank (October 2006)
– New roof, 2-ply (2006)
– Piping 75% replaced
– 3 suites have new windows
– New appliances and lino as required
– Newer intercom

Summary

Price$2,050,000
Units15
Storeys3
Price/Unit$136,667
Cap Rate3.6%
GIM16.6
Year Built1959
Lot Size66' x 123.2'
ZoningRM-3A
PID013-440-501
Sale Price$1,800,000
Sale Date01/01/2007

Suite Mix

 No. Units
Bachelor P/HNo. Units1
One BedroomNo. Units12
Two BedroomNo. Units12

Financials

FinancingClear title.
Assessment 2006
Land
Building
Total
Land$856,000
Building$423,000
Total$1,279,000
Taxes 2006
$6,943.14
Income and Expenses
Gross Income
Less Vacancy 1.0%
Effective Gross
Operating Expenses
Net Operating Income
Gross Income$123,384
Vacancy(1,234)
Effective Gross$122,150
Operating Expenses(49,878)
Net Operating Income$72,272
NotesIncome annualized as of October 2006.

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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