The subject property is a 16-suite three-storey walk-up apartment building located on a beautiful tree-lined street in Vancouver’s Fraser / Main neighbourhood. Built in 1984 on a 12,078 SF lot, the building features a suite mix of 2 bachelors, 8 one-bedrooms and 6 two-bedrooms.
Other highlights include balconies / patios, 15 surface parking stalls (8 covered), tenant storage lockers, office, and one washer/dryer set in the laundry room. Heat is supplied by electric baseboard and paid for by the tenants. The roof was replaced in 2013 and 2 new hot water tanks installed in 2019.
Rental buildings are rarely available for sale in this area. There is significant upside on rents on suite turnover.
The property is centrally located in the Fraser / Main neighbourhood of East Vancouver, only three blocks south of East 41st Avenue; a few feet west of Fraser Street; one block south of John Oliver Highschool and a 5 minute walk to Memorial South Park.
A wide range of retail amenities, supermarkets, community services, schools, restaurants, boutiques, trendy cafes and excellent bus transportation characterize this vibrant community.
|No. units||Average size||Average rent|
|Bachelor||No. units2||Average rent$770|
|1 bedroom||No. units 8||Average rent$893|
|2 bedroom||No. units 6||Average rent$991|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
For a rent roll and expense statement, please contact the listing agent.
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.