Mark Elle Apartments
1030 West 14th Avenue, Vancouver
SOLD $8,500,000
Overview
Mark Elle Apartments in an exceptionally clean and well maintained 3-storey wood-frame apartment building comprised of 32 suites located in Vancouver’s popular South Granville neighbourhood. Improved on a large 18,750 sq. ft. lot, the subject features ample storage, parking, balconies/patios, hardwood floors and an ongoing program of upgrades. Exceptionally located within walking distance to local amenities, Vancouver General Hospital, shopping, transportation and the West Broadway corridor.
Location
Mark Elle Apartments is extraordinarily well located in Vancouver’s South Granville. It is situated on the south side of West 14th Avenue between Oak and Spruce Streets; one-half block west of Oak Street. While in a quiet area, the subject property is only a few minutes walk to Vancouver General Hospital, transportation, shopping, and the popular West Broadway and South Granville corridors.
Highlights
– 24 parking stalls (8 covered & 16 uncovered)
– Hardwood floors
– Full & half-size storage lockers
– Elevator
– Patios/balconies
– Brick and stucco exterior
– Washer/dryer area on the 2nd and 3rd floors (machines leased)
– Attractive modern lobby
– Gas fired furnace and hot water tank
– Suites on breakers
Upgrades
- Approx. $200,000 spent on building over past few years
- Approx. 70% of suites have newer toilets, countertops, appliances, flooring, etc
- Balconies have been redone with vinyl membrane and new banisters (2006)
- Recently repainted
- Newer intercom
- New hallway carpets (2011)
- Plumbing: Hot and cold distribution pipes were recently replaced with shut off valves to all stacks (2011)
- Roof is approximately 14 years old
Suite mix
No. units | |
---|---|
One Bedroom | No. units29 |
Two Bedroom | No. units3 |
Financials
Financing | Treat as clear title. | |
---|---|---|
Assessment 2011 | Land Building Total | Land$5,470,000 Building$46,400 Total$5,516,400 |
Taxes 2011 | $22,471.74 | |
2011 Proforma | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$411,564 Vacancy(2,058) Effective gross$409,506 Operating expenses(129,108) Net operating income$280,398 |
Notes | Income annualized as of February 2012. For a current rent roll and expense statement, please 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.
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