Avesta Apartments
1629 St. Georges Avenue, North Vancouver
$11,250,000
Overview
Avesta Apartments is a totally rebuilt luxury 22-suite five-storey rental apartment building located in North Vancouver’s popular Central Lonsdale neighbourhood, only two blocks east of Lonsdale Avenue just off East 17th Street.
Improved on a 9,299 SF RM-4 zoned lot, the entire building was stripped down to the studs, completely rebuilt and expanded by 2 additional storeys in 2013. Avesta Apartments features excellent curb appeal with a striking entrance highlighted by a West Coast designed timber trellis and beautiful landscaping.
Of the 22 large oversized units, 11 are one-bedrooms averaging 605 SF; 10 are two-bedrooms averaging 856 SF; and one is a two-bedroom & den totalling 1,180 SF.
The lobby is modern with metal benches and tasteful art work. The suites feature contemporary high-end suite design with new flooring, rebuilt kitchens and bathrooms, modern appliances (including in-suite laundry, microwaves and dishwashers) and open concept floor plans with lots of natural light. Additional features include surface parking, secure storage for tenants (21 lockers), bicycle storage, balconies and electric heat paid by the tenants.
Avesta Apartments provides investors a worry-free building with professional property management in place and an unparalleled level of fit and finish. Additionally, it offers tenants an extremely convenient location in terms of public transit, shopping, entertainment and various amenities along Lonsdale Avenue.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
1 bedroom | No. units11 | Average size605 SF | Average rent$1,466 |
2 bedroom | No. units10 | Average size856 SF | Average rent$1,838 |
2 bedroom + den | No. units1 | Average size1,180 SF | Average rent$1,900 |
Financials
Financing | Treat as clear title. | |
---|---|---|
Assessment 2017 | Land Building Total | Land$3,719,000 Building$5,567,000 Total$9,286,000 |
Taxes 2018 | 28,131 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income $440,875 Vacancy(5,731) Effective gross $435,144 Operating expenses(106,814) Net operating income $328,330 |
Notes | For a rent roll and income and expense statement 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.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Cynthia Jagger
Personal Real Estate Corporation
cynthia@goodmanreport.com
(604) 912 9018
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
Cynthia Jagger
Personal Real Estate Corporation
cynthia@goodmanreport.com
(604) 912 9018
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3