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Simran Villa

12730 66th Avenue, Surrey

$13,900,000

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Price$13,900,000

Units52

Storeys2

Net rentable area71,908 sq. ft.

Year built2004

Lot size2.1 acres

ZoningRM-30

Price/unit$267,308

Cap rate3.5%

GIM18.5

PID025-840-916

Legal descriptionLot C Section 18 Township 2 New Westminster District Plan BCP9265

Overview

Simran Villa is a 52-suite multi-family townhouse rental complex located in the West Newton South neighbourhood of Surrey. Built in 2004 and improved with eight detached buildings and one amenity building on a 2.12 acre site, the property features a suite mix of 7-two bedroom and 45-three bedroom units. Property will be delivered strata-titled to Buyer.

Location

The subject property is located in the West Newton South neighbourhood of Surrey on the south side of 66th Avenue, just west of 128th Street. The location enjoys proximity to the Newton Town Centre, Guilford Shopping Centre, Panorama Village, Surrey City Centre and also offers good proximity to parks, schools and public transportation. Most of the daily shopping needs of local residents are met by facilities available along King George Boulevard, 120th Street and 72nd Avenue.

Highlights

52-suite wood frame townhouse complex built in 2004
Eight detached buildings and one amenity building
7 two-bedroom & 45 three-bedroom units
Each unit is equipped with a fridge, stove, dishwasher, washer and dryer
Each unit has a tandem garage (total of 104 parking stalls)
Visitor parking features an additional 10 surface stalls
Heating: Electric baseboard or forced air
Washrooms: One 2-piece and two 4-piece bathrooms in each unit
Property will be delivered strata-titled to Buyer

Show less

	No. units	Size range
Two Bedroom TH	No. units7	Size range1,234 - 1,277
Three Bedroom TH	No. units45	Size range1,375 - 1,446

Financials

Financing	Treat as clear title.
Assessment 2013	Land Building Total	Land$2,540,000 Building$10,801,000 Total$13,341,000
Taxes 2013	$54,804.75
Income and expenses	Gross income Vacancy Effective gross Operating expenses Net operating income	Gross income$769,006 Vacancy(17,687) Effective gross$751,319 Operating expenses(257,150) Net operating income$494,169
Notes	For a current 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.