Overview
The subject property is an 8 unit low-rise apartment and townhouse building located in Vancouver’s Fairview neighbourhood. Built in 1994, the property features an excellent suite mix (8-2br) with large, well configured suites, balconies/patios, in-suite laundry, fireplaces, dishwashers and secure underground parking. Tenants pay for electric heat.
Location
The subject is situated on the northwest corner of Willow Street and West 15th Avenue, one block East of Oak Street in the Fairview neighbourhood on the Westside of Vancouver. VGH Hospital located just 3 blocks to the north and one block from excellent shopping and transportation on Oak Street.
Improvements
The property is improved with a frame four storey apartment and townhouse building over a concrete parkade. The building contains four 2-level townhouse units located on the first and second floors and four 1-level apartment units located on the third and fourth floors. They range in size from 893 sq. ft. for a top floor, one level model to 1108 sq. ft. for a first floor, two-level townhouse. The average size is 998 sq. ft. and each contains two bedrooms. Four of the units have balconies, while the other four have concrete patios. The units and common areas are heated by electric base boards, while domestic hot water is provided by individual 30 gallon holding tanks in each of the units. Common areas include a concrete driveway, an underground parkade for 11 vehicles, which also houses a sprinkler room, elevator and electrical room, exposed aggregate walkways, wood fence and landscaping with mature trees and shrubs. Windows are double-glazed, roof is tar and gravel and exterior finish is stucco and wood trim.
Rent Roll & Statements
For a current rent roll including suite sizes, actual income and expense statement and proforma, please download PDF file above.
Suite mix
| No. units | |
|---|---|
| 2 Bedroom | No. units8 |
Financials
| Financing | Treat as clear title | |
|---|---|---|
| Assessment 2007 | Land Building Total | Land$1,227,000 Building$1,199,000 Total$2,426,000 |
| Taxes 2006 | $10,644.54 | |
| Income and expenses | Gross income Less Vacancy 1.0% Effective gross Operating expenses Net operating income | Gross income$170,400 Vacancy-1,704 Effective gross$168,696 Operating expenses$37,048 Net operating income$131,648 |
| Notes | 2007 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.
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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