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Kanaka Creek Estates

11165 Gilker Hill Road, Maple Ridge, BC

$2,790,000

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Price$2,790,000

Units14

Year built1998

ZoningRM 1

Price/unit$199,000

Cap rate5.5%

GIM12.9

Legal descriptionSL 2,3,4,8,12,17,18,19,22,23,27,28,29,30 DL 404, LD 37, LMS2951

Overview

This offering represents 14 units of a 30 unit strata townhouse complex called Kanaka Creek Estates in Maple Ridge. Built in 1998, each T/H features 3 bedroom, 2.5 bath with complete amenities. Located next to park lands, very close to elementry school. Albion Ferry, golf, transit & shopping nearby.

Location

The subject property is located in a quiet, residential neighbourhood in Maple Ridge surrounded by Maple Ridge Park & Kanaka Creek Regional Park. Kanaka Creek Elementary School is next door. Douglas College is in the vicinity. Near public transit-2 minutes drive to West Coast Express (45 min. ride to downtown Vancouver). Albion Ferry is a minute away. Close to shopping, recreational facilities, fine dining, fast food restaurants & movie theatres. Meadow Garden & Maple Ridge golf courses are a short drive away. 40,000 sq. ft. high tech library in the Maple Ridge Town Centre. To view a map of the subject property, please click on the SEE MAP link above.

Improvements

– Each frame townhouse unit has 3 levels, 3 bedrooms and 2.5 bath
– Average townhouse size is 1500 sq. ft.
– Gas heat, power smart townhomes
– Light, neutral décor with large windows & high vaulted ceilings
– Large playground on the complex, ideal for famlies
– Spacious, private, quiet & child friendly
– One garage, parking for 2 cars
– Decks/balconies & yard
– South facing units have view

Features

Amenties include: dishwasher, stove/oven, fridge, gas fireplace, storage, yard, garage, playground, decks, soaker bath tubs. Also prewired for security system and built-in vacuum systems. Silent floor system ensure privacy and quiet. For more details & sample floor plans, please click on “see more details” web link above.

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	No. units
3 Level, 3 Bedroom, 2.5 T/H	No. units14

Financials

Financing	Treat as clear title.
Assessment 2004	Land Building Total	Land$699,400 Building$1,416,700 Total$2,116,100
Taxes 2004	$21,486.91
Income and expenses	Gross income Less Vacancy 2% Effective gross Operating expenses Net operating income	Gross income$215,700 Vacancy($4,314) Effective gross$211,386 Operating expenses$57,944 Net operating income$153,442
Notes	2004 Proforma

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.