Overview
Exceptionally well-maintained, the subject property is a 9-suite strata-titled apartment building located in White Rock, only a couple blocks west of Johnston Road.
Location
The subject property is located on the south-west corner of Thrift Avenue and Foster Street in White Rock, BC. Exceptionally situated a few minutes’ walk to the beach and only a couple blocks west of Johnston Road, a main artery offering various amenities, restaurants, shopping and bus transportation. The Semiahoo Shopping Centre is only one block to the north, while Peace Arch Hospital is also in close proximty. This community is one of the most desirable and affluent areas in the Lower Mainland with miles of beaches, spectacular views, beautiful parks and now one of the most innovative open air shopping/lifestyle centres in Western Canada.
Features
- Exceptionally well-maintained with pride of ownership
- 19 year-old strata-titled building with great suite mix
- Suites feature gas fireplaces, patios or balconies
- Suites have in-suite washer/dryer & dishwashers
- Elevator service
- Secured underground parking for 9 cars (sprinklered) plus two extra stalls
- Lush landscaping
- All tenants have lockers
- In-floor radiant heating in suites with thermostat
- Top notch Viessmann boiler (approx. 10 years old)
- Roof is EPDM with parapet and cedar shake overhang
- Low maintenance alum soffits
- All closets have “organizers”
- Extensive capital improvement program–for a suite by suite breakdown of the work carried out in each suite, please click here.
- Views from top floor (and 270 degree unobstructed ocean views from roof)
- Common walls have “sound bars” that seperate dry wall from studs, thereby eliminating noise transfer between suites
Suite mix
| No. units | Average size | Average rent | |
|---|---|---|---|
| One Bedroom | No. units3 | Average size549 | Average rent$920 |
| Two Bedroom | No. units6 | Average size1,009 | Average rent$1,289 |
Financials
| Financing | Treat as clear title. | |
|---|---|---|
| Assessment 2011 | Land Building Total | Land$808,200 Building$1,296,800 Total$2,105,000 |
| Taxes 2011 | $15,272.16 | |
| Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$125,916 Vacancy(630) Effective gross$125,286 Operating expenses(46,707) Net operating income$78,579 |
| Notes | Income is annualized as of January 2012. For a current rent roll and a detailed 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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