Kerrisdale Apartments
2346 West 43rd Avenue, Vancouver
SOLD $4,400,000
Overview
Kerrisdale Apartments is a rarely available 9-suite apartment building located in Vancouver’s Westside Kerrisdale neighbourhood. Built in 1954, the property is a well maintained three-storey wood-frame apartment building featuring large oversized units and an excellent suite mix of 4 two-bedrooms, 4 one-bedrooms and one bachelor. Rental rates significantly below market.
Highlights
- Excellent suite mix—large oversized suites
- Hardwood floors
- 4 covered parking
- 7 of 9 suites feature dishwashers
- Laundry room: one washer/one dryer owned by building (with bike storage)
- Brick & stucco exterior
- Locker room features full size lockers
- Ample in-suite closets
- Stage 2 Environmental Report commissioned
- Rental rates significantly below market
Upgrades
- Re-piped approx. 20 years ago
- Hot water tank replaced (December 2012)
- Gas furnace (1982)
- New roof & roof deck (2015)
- Suite doors replaced
- Ongoing appliance renewal
- Bathrooms feature floor-to-ceiling tile
Location
Kerrisdale, located in the heart of Vancouver’s affluent Westside, is one of Canada’s most established and wealthy communities.
The subject property is located on the south side of West 43rd Avenue between Balsam and Yew Streets, only 2 blocks to West Boulevard in Vancouver’s prime Kerrisdale neighbourhood. Only two blocks to West 41st Avenue, considered one of the best upscale high-end fashion and retail shopping districts in the City. Walking distance to Point Grey High School, Maple Grove Park, seniors centre, bus transportation, restaurants, a branch of the Vancouver Public Library, West Main Health Unit and Kerrisdale Community Centre.
Suite mix
No. units | Average rent | |
---|---|---|
Bachelor | No. units1 | Average rent$875 |
One Bedroom | No. units4 | Average rent$1,053 |
Two Bedroom | No. units4 | Average rent$1,525 |
Financials
Financing | Clear title. | |
---|---|---|
Assessment 2016 | Land Building Total | Land$2,394,000 Building$663,000 Total$3,057,000 |
Taxes 2016 | $9,827.45 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$138,240 Vacancy(691) Effective gross$137,549 Operating expenses(37,800) Net operating income$99,749 |
Notes | 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
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
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