644 East 8th Avenue, Vancouver
Built in 1960, Makee Apartments is an 11 unit frame 3-storey apartment building in good condition located on a quiet tree lined street of Vancouver’s Mount Pleasant neighbourhood. The property features an excellent suite mix (6-2Br 5-1Br suites) parking, electric heat paid by tenants, hardwood floors, storage and many upgrades. Rents significantly under market.
The subject property is ideally located in Mount Pleasant just minutes away from Downtown Vancouver, Chinatown and the Broadway Business Corridor. The University of British Columbia (UBC) and British Columbia Institute of Technology (BCIT) plan to build new campuses nearby in the immediate future. Just half a block west of Fraser and one block north of Broadway, the subject is in close proximity to shopping, amenities, Skytrain and bus transportation.
– Clean well maintained wood frame building which is sprinklered
– 11 spacious suites comprised of 6 two bedrooms & 5 one bedrooms
– Landscaped front lawn with shrubbery
– 5 surface parking stalls at rear of building with no charge to tenants
– One washer/one dryer owned by building
– Electrical heating system (tenants pay heat which is separately metered)
– Shared storage area for 11 lockers
– Suites have hardwood floors & breakers
– Torch on roof (2004)
– Double pane windows
– Fence built (2005)
– Appliances 5-6 years old
– Four suites extensively renovated with newer cabinets, counter tops, overhead fans, newer appliances, flooring, vanity, toilets, ceramic floors
|1 Bedroom||No. Units5|
|2 Bedroom||No. Units6|
|Financing||Treat as clear title.|
|Income and Expenses|
Less Vacancy 0.5%
Net Operating Income
|Notes||Income annualized as of Dec 2010. For a current rent roll and 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.