Sold

Westview Apartments

1075 Burnaby Street, Vancouver

Apartment Building
20 suites

SOLD $3,325,000

Overview

Constructed in 1950, Westview Apartments is a 20-suite three storey plus penthouse wood-framed apartment building located in Vancouver’ s popular West End District. The subject features an excellent suite mix (9-2Br; 7-1Br & 4 bach). There is a large underutilized ground floor which contain lockers, furnace room, electrical and laundry facilities. Situated on the north-east corner of Burnaby and Thurlow Streets, the subject is only 3 blocks to English Bay and minutes to parks, recreation centres and retail amenities/restaurants along Davie Street.

Summary

Price$3,850,000
Units20
Price/Unit$192,500
Cap Rate3.5%
GIM18
Year Built1950
Lot Size82' x 131'
ZoningRM-5A
PID015-749-312; 015-749-304
Sale Price$3,325,000
Sale Date01/01/2009

Suite Mix

 No. Units
BachelorNo. Units4
One BedroomNo. Units7
Two BedroomNo. Units8
Two Bedroom P/HNo. Units1

Financials

FinancingTreat as clear title.
Assessment 2009
Land
Building
Total
Land$3,287,000
Building$428,000
Total$3,715,000
Taxes 2009
$14,753.29
Income and Expenses
Gross Income
Less Vacancy
Effective Gross
Normalized Expenses
Net Operating Income
Gross Income$213,720
Vacancy(1,051)
Effective Gross$212,669
Operating Expenses(78,225)
Net Operating Income134,444
NotesIncome anualized as of October 2009.

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

Mortgage Calculator

Mortgage
Interest rate
Amortized over
Your monthly payment is approximately

* Assumes constant interest rate throughout amortization period

%
year(s)