Rundle Manor

129 Agnes Street, New Westminster

$2,095,000

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Price$2,095,000

Units17

Storeys3

Year built1962

Lot size66' x 132'

ZoningRM-2

Price/unit$120,588

Cap rate3.5%

GIM13.8

PID012-912-484

Legal descriptionLot 26 BLK 32 LD 36 Group 1 PL 2620

Overview

Rundle Manor is a wood frame 17-suite three storey apartment building located in the Downtown neighbourhood of New Westminster with views of the Fraser River. The property features an ongoing maintenance program, covered parking, an elevator, balconies, storage lockers and a great suite mix of 3 Bach; 8-1Br & 6-2Br suites. Great rental upside upon turnover.

Location

Rundle Manor is located in New Westminster’s Downtown neighbourhood, on the north side of Agnes Street with views of the Fraser River waterfront. It is situated just 2 blocks south of Royal Avenue and 4 blocks north of Columbia Street. The Columbia Skytrain station and Douglas College are just a few blocks away, with easy access to Delta and Surrey via the Pattullo Bridge. Queens Park and the adjoining single family heritage residential area is located five blocks north-east of the property.

Features

-Wood frame 3 storey apartment with balconies
-Views of the Fraser River
-New mail boxes (to be installed)
-New carpet in common area entrance, stairs and hallways (to be installed)
-Updated enunciator panel
-Elevator upgraded at a cost of over $100,000
-Ongoing piping replacement as needed
-Suites feature hardwood floors
-8 suites feature balconies
-Roof approximately 8 years old
-Multi-temp furnace (installed in 1980)
-Hot water tank (2007)
-2 washers/2 dryers leased from Phelps
-New drain tiles and sump pump installed (2010)
-12 covered and uncovered parking stalls at rear

Show less

	No. units
Bachelor	No. units3
One Bedroom	No. units8
Two Bedroom	No. units6

Financials

Financing	Treat as clear title.
Assessment 2011	Land Building Total	Land$566,000 Building$1,182,000 Total$1,748,000
Taxes 2011	$10,492.20
2012 Proforma	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$148,621 Vacancy(1486) Effective gross$147,135 Operating expenses(76,328) Net operating income$70,807
Notes	For a 2012 Proforma, please 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.