Overview
The subject property is a clean and well maintained 12-suite three storey wood frame rental apartment building located at the foot of the Knight Street Bridge in Southeast Vancouver.
Location
The subject is located on the southwest corner of Knight Street and 63rd Avenue in Southeast Vancouver, at the foot of Knight Street Bridge. The location offers convenient access to Richmond via the bridge and Burnaby eastbound on SE Marine Drive.
Highlights
- Clean and well maintained rental property featuring 12 suites
- Suite mix: 1 bachelor; 9 one-bedroom; 3 two-bedroom
- Laundry room: 1 washer/1 dryer (leased)
- Suites feature hardwood floors
- Parking: 4 covered & 7 surface stalls at rear
- Stucco and vinyl exterior
- Heavily treed out front and side yards
- New torch-on roof (2009)
- Furnace replacement (approx. 10 years old)
- Ongoing piping replacement and appliance renewal (approx. 90% replaced over last 10 years)
- Oil tank removal/Stage 1 Environmental Report underway
- Hot water tank replaced (2014)
Suite mix
| No. units | Average rent | |
|---|---|---|
| Bachelor | No. units1 | Average rent$640 |
| One Bedroom | No. units8 | Average rent$759 |
| Two Bedroom | No. units3 | Average rent$832 |
Financials
| Financing | Treat as clear title | |
|---|---|---|
| Assessment 2013 | Land Building Total | Land$1,054,000 Building$962,000 Total$2,016,000 |
| Taxes 2013 | $7,109.07 | |
| Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$112,740 Vacancy(564) Effective gross$112,176 Operating expenses(44,022) Net operating income$68,154 |
| Notes | For a current rent roll and expense statement, 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
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