Overview
Glen Apartments is a well maintained three-storey 13-suite rental apartment building located in the Westside of Vancouver’s Marpole neighbourhood. Improved on a large 10,008 SF corner lot, the property features balconies/patios, lockers, storage and parking. Ongoing program of capital upgrades throughout building.
Highlights
- Well-maintained wood-frame 3-storey rental apartment building built in 1969
- Ongoing program of capital upgrades – see “Upgrades” tab
- Large 72’ x 140’ (10,008 SF) corner lot
- Parking: 11 stalls (3 covered)
- Vinyl exterior and balconies/patios
- 13 suites: 12 one-bedrooms; 1 two-bedroom
- Two bedroom suite has second 2-piece bathroom
- Storage: 2 locker rooms for tenants
- Laundry: one washer/one dryer (owned)
- Thermostat in each suite
- Suite 302 contains a dishwasher
Upgrades
- New torch-on roof (2011)
- New Spectrum boiler (2003)
- New Universal hot water tank (2013)
- Building repiped (1996)
- Heat, smoke detectors (2004)
- Most suites have newer breaker panels
- All but one suite have newer countertops, cabinet doors and appliances
- Some bathrooms feature new upgraded vanity and toilets
- All bathrooms have floor-to-ceiling tile
Location
Glen Apartments is located on the southeast corner of Osler Street and West 71st in Marpole. A 15-minute walk to the new rapid transit “Marine Drive Station” Canada Line, linking Richmond and the airport with Vancouver.
Conveniently situated near shopping and retail amenities on Granville and Cambie Street with access to major bus routes (bus lines on 70th and Oak, as well as Oak and SW Marine Drive). The subject is located only two blocks to Oak Street and within excellent proximity to the YVR and various highways connecting to the US and Fraser Valley.
Suite mix
No. units | Average rent | |
---|---|---|
One bedroom | No. units12 | Average rent$843 |
Two bedroom | No. units1 | Average rent$1,295 |
Financials
Financing | Clear title. | |
---|---|---|
Assessment 2016 | Land Building Total | Land$3,054,000 Building$18,200 Total$3,072,200 |
Taxes 2015 | $8,563.40 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$140,240 Vacancy(1,402) Effective gross$138,838 Operating expenses(41,407) Net operating income$97,431 |
Notes | For a detailed rent roll and expenses 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
Cynthia Jagger
Personal Real Estate Corporation
cynthia@goodmanreport.com
(604) 912 9018
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Cynthia Jagger
Personal Real Estate Corporation
cynthia@goodmanreport.com
(604) 912 9018
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3