Sold

Home / Apartment buildings / Past sales / The Oak Lodge – 1111 W. 16th Avenue, Vancouver

Sold

The Oak Lodge

1111 W. 16th Avenue, Vancouver

SOLD $2,162,000

Print options

Would you like to print the gallery images?

Yes No

Price$2,275,000

Units9

Lot size72' x 101.6' (7,315.2 sq. ft.)

ZoningRT-2

Price/unit$252,778

Cap rate3.8%

GIM20.2

PID004-824-288

Legal descriptionLot 17 BLOCK 475 DL 526 PLAN 3015

Sale price$2,162,000

Sale date06/01/2010

Overview

The Oak Lodge is a beautifully landscaped 9-suite revenue property in outstanding condition located in Vancouver’s very desirable South Granville/Fairview neighbourhood. The property is improved on a 72′ x 101.6′ lot and is zoned RT-2. It features great suite layouts, balconies, parking, storage, dishwashers, electric heat (paid by tenants), sprinklers and 4 garages. Oak Lodge reflects a genuine pride of ownership throughout and was totally renovated approximately 20 years ago.

Location

The subject property is located in the Fairview/South Granville neighbourhood on the north side of West 16th Avenue, just west of Oak Street and a block away from the heart of the prestigious Shaughnessy neighbourhood. Close to Vancouver General Hospital, shopping, cafes, bus transportation, schools, parks and Downtown Vancouver.

Features

– Electric heat paid by tenants
– Vinyl exterior
– Tiled entrance
– Beautifully landscaped
– Sprinklered inside
– Fireplace for 3 suites (2 electric & 1 wood-burning)
– 1 washer/1 dryer coin operated
– Most suites feature small dishwashers
– 72′ x 101.6′ lot (7,315.2 sq. ft.)
– Zoning: RT-2
– Suite mix: 4 bachelor; 4-1Br; 1-2Br (total 9 suites)
– 4 garages: includes 3 used for leased storage & 1 divided for laundry & owner’s storage

Renovation History

– Property totally renovated 20 years ago; floors, cabinets, windows, bathrooms, electrical, piping
– Every suite updated every 5 years
– Duroid roof (2 years ago) with 25 year warrenty, gutters, downspouts, etc
– Appliances recently replaced, hallway carpets, lighting, pavement tiles around property
– New hot water tank

Show less

	No. units
Bachelor	No. units4
1 Bedroom	No. units4
2 Bedroom	No. units1

Financials

Financing	Treat as clear title.
Assessment 2010	Land Building Total	Land$1,310,000 Building$560,000 Total$1,870,000
Taxes 2009	$7,957.77
Income and expenses	Effective gross Operating expenses Net operating income	Effective gross$112,380 Operating expenses-26,787 Net operating income$85,593
Notes	Income annualized as of Sept 2010. For a current rent roll and operating 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.