Built in 1996, the subject property is an exceptionally well maintained three-storey 10-suite rental apartment building located in Vancouver’s Marpole neighbourhood. The property features balconies, in-suite laundry & storage, elevator service and parking. There is an ongoing program of capital upgrades throughout building. This is truly a turnkey property with a genuine pride of ownership. Significant upside on rents. For a virtual tour, click here.
- Well-maintained and modern wood-frame 3-storey rental apartment building built in 1996
- Ongoing program of capital upgrades—see “Upgrades” tab
- Parking: 9 stalls at rear
- 9 balconies and 1 patio
- Efficient suites with open kitchen layouts
- In-suite storage, in-suite laundry (7 suites) and dishwashers (3 suites)
- Additional common laundry room on main floor
- In-suite electric heat and electric hot water tank paid by tenants
- Double glazed windows
- Large hydraulic elevator
- Intercom system
- Hardwired smoke/heat plus sprinklers
- Significant upside on rents
The property is very well maintained and has featured a varied program of upgrades over the years to both the suites and common areas:
- In the last 5 years, 7 suites have been fully renovated (3 suites partially) with new appliances, kitchen cupboards, counter tops, hot water tanks, in-suite laundry, toilets, sinks, paint, blinds, mirrors, laminate flooring and electrical fixtures
- Complete landscaping upgrade (2012)
- Common areas painted and new door numbers (2013)
- Exterior restoration and painting (2014)
- Security fence around unit #101 patio (2014)
- New torch-on roof (2016)
- New elevator cab and lobby tiles (2017)
The subject is located mid-block on Hudson Street between West 70th and West 71st Avenue in Marpole. Only three blocks west of Oak street and a 15-minute walk to the new rapid transit “Marine Drive Station” Canada Line, linking Richmond and the airport with Vancouver.
Conveniently situated near shopping and retail amenities on Granville and Cambie Street with access to major bus routes (bus lines on 70th and Oak, as well as Oak and SW Marine Drive). The subject is located only two blocks to Oak Street and within excellent proximity to the YVR and various highways connecting to the US and Fraser Valley.
|No. units||Average size||Average rent|
|One bedroom||No. units10||Average size501||Average rent$1,091|
|Financing||Treat as clear title|
|Income and expenses|
Net operating income
|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.