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Townhouse-style rental

2200 West 7th Avenue, Vancouver

SOLD $2,600,000

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Price $2,700,000

Property type Townhouse-style rental

Units 4

Storeys 2

Year built 1910

Lot size 45' x 50' (2,250 sq. ft.)

Zoning RM-4

Cap rate 3.3%

PID 013-961-055

Legal description Lot A of Lot 10 Block 303 District Lot 526 Plan 2234

Sale price $2,600,000

Sale date 11/26/2021

Overview

Situated on one of the prettiest tree-lined streets in Vancouver’s Westside, this Kitsilano townhouse-style rental property has been totally renovated to a high-end quality. The suites have beautiful character and boast high ceilings, in suite laundry & dishwashers, original refinished fir floors and abundant natural light. The suite mix consists of three one-bedrooms and one two-bedroom unit (each suite is a corner unit). There is no deferred maintenance which makes this a turn-key, easy to manage investment.

Highlights

Stellar location: steps to West 4th and West Broadway in desired Kitsilano neighbourhood – only 3 blocks to the new Skytrain Station
4 townhouse suites with private entrances
Extensive and stunning renovation in 2013: New plumbing, electrical, kitchens, bathrooms, appliances, windows, exterior siding, decks and more
Each suite boasts in suite laundry / dishwashers and beautiful character
Extremely easy to rent with upside in the rents
Residents are all mature, quiet, respectful
High ceilings & skylight lighting
Spacious layouts & tons of natural light
All 4 suites are “corner” units
Gorgeous original re-finished Fir flooring
Clean Stage 1 Environmental

Renovations

Common

Electrical
Plumbing
Electric panels
Exterior Siding
Paint (interior/exterior)
Honeywell touchscreen thermostat
Windows
Bike room
Gas furnace
2 hot water tanks
Cedar patio, balcony, steps & fencing

Kitchens

Appliances (fridge, stove dishwasher, hood-fan, built-in microwave)
Solid wood cabinets
Steel-grey counters
In suite washer/dryer
Modern faucets
Sinks

Bathrooms

Tile floors
Bathtubs and showers
Contemporary solid-glass doors on stand-up showers
Contemporary counter-top glazed white sinks
Tile surrounds around tubs/showers
Medicine cabinets

General to Suites

Doors
Lighting
Door hardware
Mirror closet doors
Baseboard molding
Windows and window blinds
Stunning re-finished Fir floors

Location

The subject is situated on the north side of West 7th Avenue between Vine and Yew Streets in Kitsilano. It is strategically located between two major shopping corridors, only two block south of Broadway and 3 blocks north of 4th avenue; both offer various restaurants, cafés, amenities, shopping and bus transportation. Kitsilano is considered one of the most desirable locations in the City of Vancouver to live, with its numerous beaches, parks, recreation centres, retail amenities, movie theatre, cafes and its close proximity to Downtown Vancouver and UBC.

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	No. units	Average size	Average rent
One Bedroom	No. units3	Average rent$2000
Two Bedroom	No. units1	Average rent$2200

Financials

Financing	Treat as clear title.
Assessment 2021	Land Building Total	Land$1,485,000 Building$591,000 Total$2,076,000
Taxes 2020	$6,805
Income and expenses	Gross income Operating expenses Net operating income	Gross income$105,600 Operating expenses(16,005) Net operating income$89,596
Notes	For additional information, please call Kris Pope at 604.318.5226 or email pope@dexterrealty.com.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.