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Harbour Heights Village

103 - 150 Shoreline Circle, Port Moody

SOLD $6,400,000

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Price$6,800,000

Units26

Year built2002

Lot size134,080 sq. ft.

ZoningCD2R - Multifamily

Price/unit$283,333

Cap rate6.02%

GIM16.61

Legal descriptionSL 62-87 DL 203 GRP 1 NWD ST P1 LMS 2243

Sale price$6,400,000

Sale date01/01/2004

Overview

26 luxury rentals overlooking Burrard Inlet and North Shore Mountains offering unobstructed water views, with easy access to shopping malls and Downtown.

Proposed Development Summary

Set above Barnet Highway, Harbour Heights Village is situated in one of Port Moody’s most natural settings with a panoramic view overlooking Burrard Inlet and the North Shore Mountains. There is easy access to public transportation and the convenience of Lougheed Mall and Coquitlam Centre. The improved Barnet Highway offers quick access to Downtown Vancouver or other areas of the Lower Mainland.

Building Description

Harbour Heights Village (Phases 4 & 5) consist of 26 luxury rentals, which includes 24 three level strata town homes and a three level, side by side, strata duplex dwelling. The complex is comprised of four detached buildings with six units each, while the separate duplex on the southside of Shoreline Circle is adjacent to the existing four storey condominium. The tenants also have the full use of the two level clubhouse which includes a tennis court, common meeting/party room and exercise room, and a designer garden.

Features

– Development includes two-level clubhouse with kitchen, party room, exercise room, theatre room and changing rooms
– Tennis court
– Tenants pay heat, cable and electricity
– Most units have unparalleled views of Burrard Inlet
– 10-year rental covenant (to 2012)
– Finished basements
– 175-litre electric hot water tank
– Detached single garage and carport
– 5 Appliances (includes washer/dryer)
– Patio front/back
– Electric fireplaces
– Electric heating

Show less

	No. units	Average size
3 Bedroom Duplex	No. units2	Average size3,133 sq. ft.
3 Bedroom + Den T/H	No. units8	Average size2,103 sq. ft.
3 bedroom T/H	No. units8	Average size1,809 sq. ft
4 bedroom TH	No. units8	Average size1,912 sq. ft

Financials

Financing	A first mortgage of $4,499,000 CMHC insured at 6.02% with Peoples Trust due December 31, 2012. A 25-year amortization with monthly payments of $28,838.41.
Assessment 2003	Land Building Total	Land$1,923,300 Building$4,602,000 Total$6,525,300
Taxes 2003	$48,000.00
Income and expenses	Gross Income Less Expenses Net operating income	Gross income$528,360 Operating expenses(108,482.00) Net operating income$409,310.80

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