Totally renovated! The subject is a wood frame 11 unit low-rise apartment building in superb condition centrally located in Vancouver’s popular South Granville neighborhood, with easy access to local shops, restaurants bus transportation and VGH in close proximity.
-Recently renovated three-storey apartment building constructed in 1950 featuring 11 suites -Excellent suite mix containing extra large 8 two-bedroom and 3 one-bedroom units -Suites feature refinished oak strip flooring in living room, dining area, hall
2007/2008 Renovation Summary: -Tar and gravel roof -Upgraded landscaping -New plumbing fixtures -Painted stucco exterior on second/third floors with painted aluminum siding on the ground floor -Double-glazed vinyl-framed windows, low flush toilets, low-flow showerheads and low-flow faucet aerators provide energy and water usage savings -Lobby offers new slate flooring with new commercial grade carpeting in the balance of the common area hallways and stairs -Lighting is provided by new energy efficient ceiling light fixtures -Refinished hardwood floors and new blinds -Kitchens have been totally renovated with new cabinets, countertops, light fixtures, flooring, subway tile backsplash, sink, faucet and appliances -Kitchen appliance replacement includes range, hood-vent, dishwashers and fridges -Bathrooms have been totally renovated with new ceramic tub-surrounds (50% re-tiled), new toilets/bathtubs, updated breaker panels, new sinks set in wood vanity, new mirror and light fixture -Boiler serviced -New skylight for hallway -7 two-bedroom suites have dishwashers -New drain sump
Please note that the expenses do not reflect a management expense. Currently, one of the tenants receives a rent abatement for caretaking duties. All offers subject to inspection. For details on the property, please contact Mark Goodman.
|1 Bedroom||No. units3|
|2 Bedroom||No. units8|
|Financing||A first mortgage with TD Bank with an outstanding balance of approximately $1,800,000 at an interest rate of 4.73% per annum due February 2013.|
|Income and expenses|
Net operating income
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.