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Pamela House

441 Ninth Street, New Westminster

SOLD $900,000

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Price$950,000

Units12

Year builtBuilt in 1960

Lot size7,114 sq. ft.

ZoningMulti-Family RM2

Price/unit$79,167

Cap rate5.7%

GIM11.03

PID000-804-738

Legal descriptionLot B Ex. SE 55' SB 7 Blk 23 Dist 37 Plan 4618

Sale price$900,000

Sale date09/01/2003

Overview

Pamela House is a 12-suite apartment building in excellent condition, situated close to Royal City Centre and Moody Park in New Westminster.

Improvements

The subject property is a 3-storey frame apartment building, including full lockers, constructed in 1960. It has recently undergone an extensive renovation and includes seven surface parking stalls.

Recent Upgrades

-Underground water system (2003)
-Building exterior painted (2003)
-Kitchens renovated
-Power Smart lighting
-Roof 4.5 years old (torch on)
-All window thermo pane
-New hallway carpets (2001)
-Fridge all frost-free, past five years
-Upgraded boiler and hot water tanks

Show less

	No. units
Bachelor	No. units1
One Bedroom	No. units9
Two Bedroom	No. units1
Two Bedroom Penthouse	No. units1

Financials

Financing	Treat as clear title.
Assessment 2003	Land Building Total	Land$215,000 Building$504,000 Total$719,000
Taxes 2002	$6,780.90
Income and expenses	Gross income Operating expenses Net operating income	Gross income$86,100 Operating expenses(31,536) Net operating income$54,564

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.