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The Cambridge

125 East 5th Street, North Vancouver

SOLD $4,800,000

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Price$5,650,000

Units53

Year built1969

Lot size200' x 140.17'

ZoningRM-2

Price/unit$106,603

Cap rate3.9%

GIM13.7

PID007-200-935

Legal descriptionLot C, Block 126, DL 274, LD 37, PL 878

Sale price$4,800,000

Sale date01/01/2006

Overview

Constructed in 1969, The Cambridge is a 53 unit, 3 storey frame apartment building featuring elevator, balconies and secure underground parking. It is situated one-half block east of Lonsdale Ave. on East 5th Street in the Lower Lonsdale area of North Vancouver. Many suites with southern exposure have panoramic views of the harbour and Vancouver.

Improvements

– building serviced with 4 stop Montgomery elevator (1500 lb capacity)
– secure underground parking for 64 vehicles
– balconies/patios for each suite
– lockers for each tenant
– 3 washers, 3 dryersroof is tar & gravel (replaced 2003)
– floor coverings

Building Notes

The Cambridge is in need of upgrades including piping, balconies, appliances, flooring, painting exterior/interior, minor roof repairs, bathroom upgrades, landscaping, etc.

Show less

	No. units	Average size
Bachelor	No. units6	Average size484
Studio	No. units6	Average size572
One Bedroom	No. units38	Average size685
Two Bedroom	No. units3	Average size880

Financials

Financing	$2.3M @ 6.75% with The Bank of Montreal due September 1, 2006. (Treat as clear title-to be paid off).
Assessment 2005	Land Building Total	Land$2,367,000 Building$2,428,000 Total$4,795,000
Taxes 2004	$27,235.17
Income and expenses	Gross income Effective gross Operating expenses Net operating income	Gross income$411,507 Effective gross$411,507 Operating expenses(189,940) Net operating income$221,567
Notes	There is approximately a 20% upside on rents once renovations have been completed. 2004 income includes laundry and parking. For rent roll and 2003, 2004 & 2005 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 Goodman Commercial.