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Haighton Manor

1580 Everall Street, White Rock

Apartment Building
57 Suites

SOLD $6,200,000

Overview

Constructed in 1969, Haighton Manor is a 57-suite frame apartment building located in White Rock. Superbly maintained with no deferred maintenance, the subject property features an elevator, secure underground parking, balconies and an extensive program of upgrades.

Location

Haighton Manor is located on the east side of Everall (corner north Bluff Road), in the City of White Rock, only 4 blocks to the main shopping area on Johnston. On bus line.

Summary

Price$6,500,000
Units57
Price/Unit$114,035
Cap Rate4.8%
GIM13.4
Year Built1969
Lot Size263' x 142' (Approx.)
ZoningRM-2
PID007-170-106
Sale Price$6,200,000
Sale Date01/01/2007

Suite Mix

 No. Units
BachelorNo. Units10
One BedroomNo. Units36
Two BedroomNo. Units11

Financials

FinancingPurchaser will have to either clear title or assume the first mortgage financing that is in place in favour of Great West Life at a rate of 6.23% due April 1st, 2012 with a current balance of $2,794,312 as at June 1st, 2006.
Assessment
Land
Building
Total
Land$3,705,000
Building$761,000
Total$4,466,000
Taxes 2006
$44,097.97
Income and Expenses
Gross Income
Operating Expenses
Net Operating Income
Gross Income$485,000
Operating Expenses(173,000)
Net Operating Income$312,000
NotesFor a detailed information package including a rent roll and financial statement, download the Haighton Manor Executive Summary.

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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