Overview
Carlton Court is a 12-suite three-storey apartment building located on the northeast corner of West 1st Ave and Vine St, only two blocks to Kitsilano’s famed beach waterfront.
Built in 1930 and improved on a 6,000 SF comer lot, the property exudes old-world charm inside and out. The building is well maintained and features a unit mix of 12 large one-bedrooms averaging 687 SF in size. There are amazing views of the ocean, Downtown and North Shore mountains from the west side of property. The building contains storage for each tenant (12 lockers) and one washer / dryer set.
Carlton Court can be purchased as a standalone building, or together with neighbouring Mountain Ash Manor.
Upgrades
There have been several updates to the suites and common areas over the years:
- New torch on roof – 2007
- Half of the building’s exterior fully rain screened ($300,000) – 2007 and 2014
- Corner windows replaced with double pane on south, southeast corner, and southwest elevations – 2014
- High-efficiency boiler ($20,000) – 2012
- Hot water tank – 2016
- New washer / dryer – 2021
- All frost-free fridges replaced after 2008
- All stoves replaced after 2008
- Oil tank removed – 2003
- Unit upgrades as required including flooring, appliances and kitchen / bathroom modernization
Location
Carlton Court is located on the northeast corner of West 1st Ave and Vine St in the heart of Vancouver’s Kitsilano neighbourhood. The building is positioned steps to Kits Beach and a block west of the lively Yew Street commercial node. Just two blocks north, local bus routes along Cornwall Ave provide convenient access to UBC and Downtown, while West 4th Avenue, 3 blocks south, offers extensive shopping, amenities, cafes and restaurants.
The property is also within a 15-minute walk from the future Broadway Line Skytrain station at Arbutus and Broadway, and the Burrard Bridge is only 4 blocks away offering easy access to Downtown Vancouver.
Kitsilano Beach is one of the most popular and scenic parks in all of Metro Vancouver. The seawall and beach itself offer stunning views of English Bay, the West End’s skyline and the North Shore Mountains. The park is also home to Kitsilano Pool, a much-loved heated outdoor facility right on the waterfront, along with tennis, beach volleyball and basketball courts, the Kitsilano Yacht Club, waterfront Boathouse restaurant, and picnic areas.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
1 bedroom | No. units5 | Average size610 SF | Average rent$2,027 |
1 bedroom w/dining | No. units7 | Average size743 SF | Average rent $2,157 |
Financials
Financing | Treat as clear title. | |
---|---|---|
Assessment 2023 | Land Building Total | Land$3,654,000 Building$1,124,000 Total$4,778,000 |
Taxes 2022 | $13,540 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$305,959 Vacancy(1,530) Effective gross$304,429 Operating expenses(68,129) Net operating income$236,300 |
Notes | For additional information including detailed financials, please contact the listing agent. One unit is unauthorized. |
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
Ian Brackett
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
Ian Brackett
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3