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County Haus

14884 North Bluff Road, White Rock, BC

$4,080,000

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Price$4,080,000

Units27

Lot size107.87' X 207.6' (22,400 sq. ft.)

ZoningRS1/RM-2 Medium Density Apartment Zone

Price/unit$151,111

Cap rate6%

GIM12.8

PID009-433-996 and 009-434-046

Legal descriptionLot 3 Except N. 7, Section 10, Township 1, NWD, Plan 10901; and

Overview

County Haus is a 27 unit frame apartment building located in White Rock near Semiahoo Mall and business district. The building has been totally renovated to condominium standards and shows beautifully.

Location

County Haus is situated mid-block on the south side of North Bluff Road. North Bluff Road offers public transit and runs east/west through the city. The apartment building is approximately two blocks from Semiahmoo Mall and the intersection of 16th Avenue which is the core of the business district. Semiahmoo Mall and surrounding retail stores offer large format stores, plus financial services and a host of specialty stores, restaurants and coffee shops. Directly across the street from County Haus is Southmere Park. The apartment building’s location is considered to be first class.

Improvements

14884 North Bluff is a renovated three storey frame building designed to attract seniors. The suites are totally re-done with new kitchens, washrooms, flooring etc. The common areas show beautifully and the building has “state of art” security systems. The mechanical systems are excellent featuring twin super-hot gas fired boilers and twin fast recovery hot water tanks. All suites have individual thermostats, double glass thermal windows to ensure a warm quiet and safe living environment. Every suite has either a patio or outdoor balcony to take full advantage of White Rock’s sunny days. There are 27 parking stalls, ample laundry facilities and an elevator to further enhance carefree living.

Features

Kitchens:
– Appliances (full size)
– Dishwashers
– Cushioned flooring
– Cabinets
– Dual stainless steel sinks New Bathroom:
– Toilets
– Tub with steel bars
– Tile surrounds
– Designer vanity New Living Rooms/Bedrooms:
– Low pile non-static carpeting
– Some suites with hardwood flooring
– Crown mouldings
– 4.5” baseboards
– Diffused lighting
– California closets
– Vertical window coverings
– Designer colours Building:
– Newly repiped
– New Thermal Pane Windows
– Newly painted
– Double locking patio doors and windows
– Ample parking
– Card entry security Common Amenities:
– Large entry layer with fire place
– Activity centre with lounge chairs, computer nook and kitchen
– Individual lockers
– 2 laundry areas

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	No. units
1 Bedroom	No. units21
2 Bedroom	No. units4
2 Bedroom	No. units2

Financials

Financing	An assumable MCAP first mortgage with an approximate OSB of $2,352,633 at an interest rate of 5.36% and due 2011-03-01 with P. + I. payments of approximately $14,454 per month or $173,452 p.a.
Taxes 2004	$22,313.00
Income and expenses	Gross income Less Vacancy Effective gross Operating expenses Net operating income	Gross income$318,780 Vacancy($2,000) Effective gross$316,780 Operating expenses$73,124 Net operating income$243,656
Notes	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.