Overview
Cote D’Azur is a 22 suite walk-up apartment building located in the West End close to Robson & Denman Street. It is well maintained, has all new appliances and features three penthouse suites with rents under market.
Improvements
The subject property features balconies for all tenants, hardwood floors and a large basement area that has vast revenue potential. Parking includes 6 stalls in total (two surface, four covered). Overall, the building is well maintained, highlighted by attractive landscaping around the property and nice lobby decor and attention to detail. There are virtually no signs of deferred maintenance.
Recent Upgrades
Suite mix
| No. units | |
|---|---|
| Bachelor | No. units4 |
| 1 Bedroom P/H | No. units3 |
| 1 Bedroom | No. units14 |
| 2 Bedroom (one suite unauthorized) | No. units1 |
Financials
| Financing | Clear title | |
|---|---|---|
| Assessment 2003 | Land Building Total | Land$907,000 Building$1,078,000 Total$1,985,000 |
| Taxes 2003 | $13,375.01 | |
| Income and expenses | Gross income Less Vacancy 1.5% Effective gross Operating expenses Net operating income | Gross income$202,788 Vacancy($4,018) Effective gross$198,770 Operating expenses($57,000) Net operating income$141,770 |
| Notes | Annualized as of Jan. 1/04 | |
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
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