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The Lexington

3777 Cambie Street, Vancouver

SOLD $3,675,000

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Price$3,850,000

Units25

Year built1945

Lot size13,966 sq. ft. (irregular)

ZoningRM-3A

Price/unit$154,000

Cap rate4.4%

GIM14

PID013-275-933; 013-275-941; 013-276-042

Legal descriptionLot 6-8 BLK 600 A DL 526 PL 2976

Sale price$3,675,000

Sale date01/01/2006

Overview

The Lexington is a 25 unit, 3 storey frame apartment building in good condition located in the developing Cambie corridor of Vancouver. Features large units, excellent suite mix, hardwood floors and many upgrades.

Location

The Lexington is a high profile corner property located on Cambie Street and 22nd Avenue. It is situated on the future RAV line, and provides excellent access to shopping, restaurants and transit.

Improvements

– Beautifully landscaped with very attractive lobby and garden entranceway
– The 1 br suites are 15-20% larger than average
– Large laundry room (machines leased)
– Hardwood floors (beautifully restored)
– Lockers for each suite (25)

Recent Upgrades

– Newer intercom
– Roof & flashings replaced 2004
– All new stoves and fridges in last 5 years
– 2 New hot water tanks 2003/2004
– All tubs floor to ceiling tile
– 5-6 suites new windows
– New piping 2000
– 1/2 suites newer kitchen and bathrooms floors
– Approximately four new kitchen counter tops
– Attractive, clean laundry area

Show less

	No. units
Bachelor	No. units3
One Bedroom	No. units17
Two Bedroom	No. units5

Financials

Financing	Treat as clear title.
Assessment 2005	Land Building Total	Land$1,552,000 Building$1,157,000 Total$2,709,000
Taxes 2005	$15,864.56
Income and expenses	Effective gross Operating expenses Net operating income	Effective gross$273,598 Operating expenses(103,884) Net operating income$169,714
Notes	Income annualized as of November 2005. For rent roll, click here.

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