1510 East Pender Street

Vancouver

SOLD $1,000,000

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Price$1,000,000

Units6

Year built1967

Lot size57.5' x 122' (7,105 sq. ft.)

ZoningRM-4

Price/unit$166,667

Cap rate2.7%

GIM21

PID105-292-177

Legal descriptionLot B Blk 6 of Blk C DL 183, PL 417

Sale price$1,000,000

Sale date01/01/2010

Overview

Situated on a corner lot, the subject property is a 6-unit two level frame apartment block located in the Grandview neighbourhood of East Vancouver. The building is comprised of 1 two bedroom and 5 one bedroom suites and features 6 paved rear parking stalls and balconies/patios. Rents are below market rates for the area.

Location

Located on the southeast corner of Pender Street and Mclean Drive, the site is in close proximity to transportation routes one block south of East Hastings and two blocks west of Commercial Drive.

Comments

As the property was self managed, we estimated a caretaker expense of $3240/year and a repairs & maintenance expense of $3900 ($650/unit/year).

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	No. units
One Bedroom	No. units5
Two Bedroom	No. units1

Financials

Financing	Treat as clear title.
Assessment 2009	Land Building Total	Land$918,000 Building$23,000 Total$941,000
Taxes 2009	$5,601.59
Income and expenses	Effective gross Estimated Expenses Net operating income	Effective gross$47,500 Operating expenses(20,666) Net operating income$26,834
Notes	Income annualized as of November 2009.

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