The Caprice

136 East 18th Street, North Vancouver

SOLD $2,550,000

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Price$2,650,000

Units29

Year built1970

Lot size115.5 ft. x 137 ft.

ZoningMulti-family (Low Rise)

Price/unit$91,379

Cap rate6.6%

PID008-529-108

Legal descriptionLot E of Lot 2 - 4, Block 18, DL 549, Plan 132627

Sale price$2,550,000

Sale date01/31/2003

Overview

The Caprice is a 29-suite apartment building in excellent condition located 1/2 block east of Lonsdale in North Vancouver. It features underground parking, balconies and elevator.

Building Description

The Caprice is a 29-suite, 3-storey frame building with a stucco/cedar exterior with stone trim. Featuring an elevator, balconies and underground secured parking for 24 cars and three surface parking stalls, the Caprice, located in the City of North Vancouver, is only 1/2 a block east of Lonsdale Avenue.

Improvements

The building has experienced an ongoing schedule of improvements including a newer roof and most of the copper piping (6 years ago), mostly new carpets (90%) and appliances (85%) and a new membrane coat over the garage area in 1999, balconies repaired in 2001, a new pump on furnace in 2001, elevator upgrade and a new hot water tank in 2002. The Caprice also has a separate laundry room, storage lockers for tenants and a separate office for caretaker.

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	No. units
Bachelor	No. units5
One Bedroom	No. units23
Two Bedroom	No. units1

Financials

Financing	A 1st mortgage of $1,600,000 with Canada Western Bank at 5.5% PI $10,951 a month to year June 2005.
Assessment 2002	Land Building Total	Land$1,238,000 Building$773,000 Total$2,011,000
Taxes 2002	$15,328.37
Income and expenses	Gross income Operating expenses Net operating income	Gross income$262,860 Operating expenses(87,000) Net operating income$175,860

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