Sharon Apartments

1175 Pacific Street, Vancouver

SOLD $8,000,000

Print options

Would you like to print the gallery images?

Yes No

Price $9,000,000

Units 23

Storeys 3 + penthouse level

Year built 1956

Lot size 66’ × 131’ (8,646 SF)

Zoning RM-5A

Price per unit $391,304

Cap rate 2.7%

Gross income multiplier 25.8

Parking 8 parking stalls (secured)

PID 015-746-399

Legal description Lot 12 Block 27 District Lot 185 Plan 92

Sale price $8,000,000

Sale date 01/31/2020

Overview

A great project in an amazing West End location on Pacific Street facing Sunset Beach! Sharon Apartments is a 23-suite 3-storey (plus penthouse level) apartment building featuring some water views from the top floor. The building comprises a suite mix of 3 two-bedrooms and 20 one-bedrooms, storage lockers, workshop, leased laundry machines (2 sets of washers/dryers) and secure parking (8 stalls). Four suites have purposely been kept vacant to allow a new owner to renovate.

Location

The property is within walking distance to English Bay and the Sea Wall and provides easy access to all of Downtown Vancouver and its numerous shops and amenities.

Show less

	No. units	Average size	Average rent
1 bedroom	No. units20	Average rent$1,203
2 bedroom	No. units3	Average rent$1,508

Financials

Financing	Treat as clear title.
Assessment 2019	Land Building Total	Land$7,781,000 Building$1,878,000 Total$9,659,000
Taxes 2019	$23,928
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$350,909 Vacancy(1,755) Effective gross$349,155 Operating expenses(105,818) Net operating income$243,337
Notes	For proforma rent roll and projected income & expenses, 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.