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Century Garden Apartments

6814 Arcola Street, Burnaby

SOLD $1,270,000

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Price$1,295,000

Units11

Year built1955

Lot size74' x 120'

ZoningRM-3

Price/unit$117,727

Cap rate5.1%

GIM12.9

PID002-729-971

Legal descriptionLot D, DLot 96, LD 37, Grp 1 NWD, PL 15016

Sale price$1,270,000

Sale date01/01/2007

Overview

Century Garden Apartments is an updated and exceptionally well maintained 11 unit frame apartment building located in the Middlegate neighborhood of Burnaby. Built in 1955, the property features manicured landscaping, dishwashers, parking, in-suite storage and an ongoing program of upgrades. 2007 Assessment is $1,498,000.

Location

The subject property is located in Burnaby on the south side of Arcola Street, one block north of Kingsway in the heart of the Middlegate Town Centre. Close to Highgate Shopping Centre.

Improvements

– Two storey walk-up frame building
– Attractive entrance
– Front facing suites have large patios
– 9 surface parking at rear of building
– Suites/appliances upgraded on turnover
– Security system with cameras
– 1 washer/1 dryer leased
– In-suite storage
– Roof membrane replaced in 2004
– Copper plumbing
– One suite unauthorized

Show less

	No. units
One Bedroom	No. units9
Two Bedroom	No. units2

Financials

Financing	Clear title.
Assessment 2007	Land Building Total	Land$532,000 Building$966,000 Total$1,498,000
Taxes 2006	$6,770.00
Income and expenses	Gross income Less Vacancy 0.5% Effective gross Operating expenses Net operating income	Gross income$100,200 Vacancy(500) Effective gross$99,520 Operating expenses(33,979) Net operating income$65,541
Notes	Income annualized as of January 2007. For rent roll and income & expense statement, 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.