851 Bidwell Street

Vancouver

$7,560,000

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Price$7,560,000

Units24

Storeys3

Net rentable area18,573

Year built1930

Lot size74' x 131' (9,694 sq. ft.)

ZoningRM-5A

Price/unit$315,000

Cap rate3.4%

GIM20

PID014-384-604; 014-384-591

Legal descriptionLots 20 and 21, except the West 58 feet, Block 56 District Lot 185 Plan 92

Overview

Loction

The subject is located on the corner of Bidwell and Haro Streets in the heart of Vancouver’s popular West End District.

The West End District is one of the oldest and most densely populated areas of the City and is developed with a mixture of some its original single-family residences, low-rise apartment buildings as well as numerous high-rises.

Considered one of the most sought after multi-residential areas in Vancouver, the West End offers residents immediate proximity to the employment, entertainment, shopping and recreational areas of Vancouver’s downtown core. Nearby are the popular pedestrian shopping areas of Robson Street and Denman Street. Georgia Street, the financial district of Downtown is also a few minutes walk.

Moreover, the subject property is a short walk to the beaches of the English Bay waterfront, the lush greenery of the world famous thousand-acre Stanley Park and Coal Harbour.

Access to a first-rate system of public and private transportation services is also readily available in the immediate vicinity of this property.

Features

Two level plus penthouse wood frame apartment building on a large 9,694 sf corner lot
Excellent West End location just off Robson
Extensively upgraded throughout
Great suite mix and above average suite sizes
H/w Floors
Valves on radiators
Hardwired smoke alarms
Breakers

Upgrades

Exterior brick re-clad encompassing 3 sided and sealed (2010)
Rear stucco wall repaired, patched, painted & sealed
Rebuilding of chimneys with new bricks
New roof featuring double layer SBS membrane (2011)
New boiler (2011)
Ongoing program of suite upgrades over past 2 years including new hardwood floors in some units
Penthouse: bathroom upgraded; all new kitchen cabinets & new stairwell to roof top deck
New hot water tank, heat exchange & motor pump installed (2010)
Oil tank removed in (April 1999)
Building repiped 10 years ago
6 kitchens totally renovated

Show less

	No. units	Average size	Average rent
Bachelor	No. units1	Average size288	Average rent$670
One Bedroom	No. units12	Average size727	Average rent$1,174
Two Bedroom	No. units10	Average size895	Average rent$1,426
Penthouse	No. units1	Average size613	Average rent$1,696

Financials

Financing	Treat as clear title.
Assessment 2013	Land Building Total	Land$3,945,000 Building$2,038,000 Total$5,983,000
Taxes 2012	$21,626.09
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$373,217 Vacancy(1,120) Effective gross$372,097 Operating expenses(113,198) Net operating income$258,899
Notes	For a current rent roll and 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.