Overview
Ralf’s Gardens is a 48-suite three-storey wood-frame rental apartment building located in Burnaby’s Highgate neighbourhood. Clean and well maintained, the property is improved on a large 31,768 sq. ft. site and features elevator service, secure underground parking, ample storage and a great suite mix. Property is in the Edmonds Plan as “Town Centre Core”.
Features
- Three-storey wood-frame building constructed in 1968
- 48 units (2 bachelors, 40 one-bedrooms, 6 two-bedrooms)
- All suites have balconies or patios
- Stucco exterior with brick trim
- 48 secured underground parking stalls
- Bright and clean laundry room with 3 washers and 3 dryers (leased)
- Bike storage area
- Separate locker room
- 16’ x 12’ storage room
- Security system with cameras
Upgrades
- 75% of windows, bathrooms, countertops, laminate floors, tiles, and appliances have been upgraded in bath/shower
- All bathrooms have floor-to-ceiling tiles
- Attractive lobby with ceramic tile work
- Pipe risers replaced (approx. 10 years ago)
- Roof replaced (approx. 8 years ago)
- Single cylinder elevator replaced (approx. 3 years ago)
- Balconies replaced or membranes refinished as needed (approx. 3 years)
- Hall carpets replaced (approx.10 years ago)
- Updated intercom & annunciator panel
- Mighty Therm water boilers
- High Tec water treatment system
- Tile flooring in basement
Location
The property is located on the south side of Arcola Street, one block north of Kingsway in the heart of the Highgate Town Centre, only a half-block west of Highgate Shopping Centre. The Edmonds Community Centre, restaurants, transit and various amenities are very close by. Only a 13-minute walk to the Edmonds SkyTrain Station and 3km to Metrotown Mall.
Suite mix
No. units | Average rent | |
---|---|---|
Bachelor | No. units2 | Average rent$718 |
1 bedroom | No. units40 | Average rent$867 |
2 bedroom | No. units6 | Average rent$1,028 |
Financials
Financing | Clear title. | |
---|---|---|
Assessment 2016 | Land Building Total | Land$4,606,000 Building$3,923,000 Total$8,529,000 |
Taxes 2016 | $64,180.18 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$521,320 Vacancy(4,265) Effective gross$517,055 Operating expenses(236,102) Net operating income$280,953 |
Notes | For a detailed rent roll & 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
Cynthia Jagger
Personal Real Estate Corporation
cynthia@goodmanreport.com
(604) 912 9018
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
Mortgage calculator
Contact
Cynthia Jagger
Personal Real Estate Corporation
cynthia@goodmanreport.com
(604) 912 9018
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3