Overview
Sharon Court is a 2-level wood frame walk-up 10-suite apartment building located in Burnaby’s Metrotown neighbourhood. Clean & well maintained, the property features an excellent suite mix (6-1Br; 4-2Br), surface parking, hardwood floors, storage lockers and many upgrades.
Location
Sharon Court is located on the west side of Dow Avenue, the second property north of Imperial Street in Burnaby’s popular Metrotown neighbourhood. Situated steps to a bus line; only one block to the Metrotown Mall and Skytrain Station.
Features
- Well maintained 2 level wood-frame 10-suite apartment building
- Central Burnaby location—one block south of Metrotown Mall
- Great suite mix: 6 one bedroom & 2 two bedroom units
- Stucco exterior with brick trim around front entrance
- Surface parking around rear for 10 cars
- One washer/dryer set owned by building
- 2 suites have been substantially upgraded including new cabinets, appliances, counter tops, hardwood floors, etc.
- Approx 80% of appliances have been replaced in last 10 years
- Hydrotherm gas furnace (1984)
- 3 hot water tanks (2011)
- Suites feature hardwood floors
- Hardwired heat/smoke detectors
- Storage room contains 10 full size lockers
- Oil tanks removed (2010)
- Double pane windows (2000)
- Tar & gravel roof (2000)
- Hot water line replaced (2000)
- All tenants on month-to-month agreements
- Large workshop (originally an 11th suite—potential to convert back to bachelor suite)
Suite mix
| No. units | Average size | Average rent | |
|---|---|---|---|
| One Bedroom | No. units6 | Average size626 | Average rent797 |
| Two Bedroom | No. units4 | Average size789 | Average rent909 |
Financials
| Financing | Treat clear as title. | |
|---|---|---|
| Assessment 2012 | Land Building Total | Land$1,071,000 Building$615,000 Total$1,686,000 |
| Taxes 2012 | $7,190.45 | |
| Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$103,004 Vacancy(1,030) Effective gross$101,974 Operating expenses(39,249) Net operating income$62,725 |
| Notes | For a current rent roll & 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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