Overview
The Poplars is a 28-suite apartment building in excellent condition with no deferred maintenance, situated in an attractive area of Marpole, close to SW Marine Drive.
Improvements
The subject property is a 3-storey frame walk-up building built in 1966. It includes 28 parking stalls (13 surface, 13 underground), large balconies or patios and hardwood floors. The property has been beautifully landscaped.
Upgrades
– 8 newer stoves
– 30″ models -20 new fridges
– Furnace “Superhot”
– New roof (2002)
– New kitchen/bathroom flooring
– All bathrooms have floor to ceiling tiles
– Newer hot water tanks
– Exterior painted (1996)
– Sidewalk behind building redone (2002)
Suite mix
| No. units | |
|---|---|
| Bachelor | No. units5 |
| One Bedroom | No. units17 |
| Two Bedroom | No. units6 |
Financials
| Financing | Treat as clear title. | |
|---|---|---|
| Assessment 2003 | Land Building Total | Land$1,461,000 Building$621,000 Total$2,082,000 |
| Taxes 2003 | $17,905.00 | |
| Income and expenses | Gross income Less Vacancy 1.5% Effective gross 2002 Expenses Net operating income | Gross income$218,460 Vacancy(3,276) Effective gross$215,184 Operating expenses(81,551) Net operating income$133,633 |
| Notes | Income annualized as of August 3, 2003. Parking revenue included in rent. Also, caretaker is paid $11,500 per year plus pays only $100 for their two-bedroom unit. For rent roll and income & 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 Goodman Commercial.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
Mortgage calculator
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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