Overview
Loction
The subject is located on the corner of Bidwell and Haro Streets in the heart of Vancouver’s popular West End District.
The West End District is one of the oldest and most densely populated areas of the City and is developed with a mixture of some its original single-family residences, low-rise apartment buildings as well as numerous high-rises.
Considered one of the most sought after multi-residential areas in Vancouver, the West End offers residents immediate proximity to the employment, entertainment, shopping and recreational areas of Vancouver’s downtown core. Nearby are the popular pedestrian shopping areas of Robson Street and Denman Street. Georgia Street, the financial district of Downtown is also a few minutes walk.
Moreover, the subject property is a short walk to the beaches of the English Bay waterfront, the lush greenery of the world famous thousand-acre Stanley Park and Coal Harbour.
Access to a first-rate system of public and private transportation services is also readily available in the immediate vicinity of this property.
Features
- Two level plus penthouse wood frame apartment building on a large 9,694 sf corner lot
- Excellent West End location just off Robson
- Extensively upgraded throughout
- Great suite mix and above average suite sizes
- H/w Floors
- Valves on radiators
- Hardwired smoke alarms
- Breakers
Upgrades
- Exterior brick re-clad encompassing 3 sided and sealed (2010)
- Rear stucco wall repaired, patched, painted & sealed
- Rebuilding of chimneys with new bricks
- New roof featuring double layer SBS membrane (2011)
- New boiler (2011)
- Ongoing program of suite upgrades over past 2 years including new hardwood floors in some units
- Penthouse: bathroom upgraded; all new kitchen cabinets & new stairwell to roof top deck
- New hot water tank, heat exchange & motor pump installed (2010)
- Oil tank removed in (April 1999)
- Building repiped 10 years ago
- 6 kitchens totally renovated
Suite mix
| No. units | Average size | Average rent | |
|---|---|---|---|
| Bachelor | No. units1 | Average size288 | Average rent$670 |
| One Bedroom | No. units12 | Average size727 | Average rent$1,174 |
| Two Bedroom | No. units10 | Average size895 | Average rent$1,426 |
| Penthouse | No. units1 | Average size613 | Average rent$1,696 |
Financials
| Financing | Treat as clear title. | |
|---|---|---|
| Assessment 2013 | Land Building Total | Land$3,945,000 Building$2,038,000 Total$5,983,000 |
| Taxes 2012 | $21,626.09 | |
| Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$373,217 Vacancy(1,120) Effective gross$372,097 Operating expenses(113,198) Net operating income$258,899 |
| Notes | For a current rent roll and 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.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
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
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3