Overview
Built in 2002, Mulholland Place is a high quality 35-suite strata three-storey rental apartment building located in Langley. Exceptionally well maintained, this project incorporates efficient low-maintenance specifications to ensure an investor the highest possible return on investment.
Location
Conveniently located at the northeast corner of 56th Avenue and 200th Street, Langley. Minutes walk to Willowbrook Mall, Power Centre and close to Downtown Langley City.
Features
-47 secure underground parking stalls
-10 visitor parking stalls
-40 year Duroid roof (excellent flashing system)
-Tenants pay electric heat/cable
-Electric meter room on each floor
-Vinyl exterior – 30″ overhang
-R20 + R40 insulation
-Starline vinyl windows with sound proofing
-Richmond Elevator (2,500 lbs)
-Flooring: Laminated 20 year hardwood and carpeting (1 inch thick gypsum concrete)
-State of the art, high-tech security and surveillance system (common areas)
-Power Smart high efficiency lighting in common areas
-In suite washer/dryer (GE Spacemaker)
-Fridges (31′) and Stoves (30′) by GE
-Quiet dishwasher and garborator
-Each suite has separate hot water tank
-Cabinets: quality arborite finish
-Kohler bathroom & kitchen fixtures
-Separate caretaker office and social area
-Bike rack in underground secure parking area
-High speed internet access
-Common areas and suites on sprinklers
-Lawn sprinkler system
-Suites feature patios or balconies
Suite mix
| No. units | Average size | |
|---|---|---|
| 1 Bedroom + Niche | No. units12 | Average size643 |
| 1 Bedroom + Den | No. units18 | Average size654 |
| 2 Bedrooms + Niche | No. units5 | Average size874 |
Financials
| Financing | Treat as clear title. | |
|---|---|---|
| Assessment 2011 | Land Building Total | Land$996,000 Building$3,707,800 Total$4,703,800 |
| Taxes 2011 | $28,760.53 | |
| Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$405,636 Vacancy(7,099) Effective gross$398,537 Operating expenses(133,698) Net operating income$264,839 |
| Notes | Income annualized as of December 2011. For a current rent roll and expense statement, please 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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