310 East 13th Avenue, Vancouver
Tiawanna Apartments is a wood frame, 26-suite low-rise apartment building located in Vancouver’s very popular Mount Pleasant neighbourhood. The property is improved on a large lot (99′ x 125′) and situated one short block to a wide range of amenities, cafes and bus transportation on Main Street. The subject property also features surface parking, laundry facilities, storage lockers and major upgrades including plumbing, furnace and roof. Rents significantly under market–huge upside on turnover.
The subject property is located on the south-east corner of 13th Avenue and Sophia Street in Vancouver’s Mount Pleasant neighbourhood.
Major transportation routes in a north/south direction are along Main Street, Kingsway and Fraser Street, with east/west travel provided by Broadway and 12th Avenue.
A wide range of retail amenities, supermarkets, community services, restaurants and excellent bus transportation characterize this vibrant community. A sampling of the amenities within walking distance to the subject property include IGA, Starbucks & JJ Bean, Cobs Bread and Blockbuster Video along Main Street. Community services include Cavell Gardens, a senior care home a block away on 13th Avenue and Sophia. Bethlehem Lutheran Church/Montessori Pre-School is situated on 15th and Sophia, and across the street is Robson Park. Mount St. Joseph Hospital is just steps away on Prince Edward and 13th Avenue. The well-known Heritage Hall is at 15th and Main.
– Hardwood parquet floors in suites
– 2 sets of washers/dryers leased in bright large laundry room
– Tenants pay for own electricity
– Surface parking for 12 cars in rear
– Gas fired hot water baseboard heat
– Fire alarm/smoke detectors in suites
– Storage lockers for all 26 tenants
– Super Hot furnace installed (2002)
– New hot water tank (2008)
– A few suites have newer laminate floors
– Some toilets & appliances renewed as needed
– Hot & cold plumbing lines replaced (2002)
– Roof replaced (2002)
|One Bedroom||No. units22|
|Two Bedroom||No. units3|
|Financing||Treat as clear title.|
|Income and expenses|
Less Vacancy 0.60%
Net operating income
|Notes||Income annualized as of May 2012. For an updated expense statement and proforma, click here.|
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.