The Poplars is a 28-suite apartment building in excellent condition with no deferred maintenance, situated in an attractive area of Marpole, close to SW Marine Drive.
The subject property is a 3-storey frame walk-up building built in 1966. It includes 28 parking stalls (13 surface, 13 underground), large balconies or patios and hardwood floors. The property has been beautifully landscaped.
– 8 newer stoves
– 30″ models -20 new fridges
– Furnace “Superhot”
– New roof (2002)
– New kitchen/bathroom flooring
– All bathrooms have floor to ceiling tiles
– Newer hot water tanks
– Exterior painted (1996)
– Sidewalk behind building redone (2002)
|One Bedroom||No. units17|
|Two Bedroom||No. units6|
|Financing||Treat as clear title.|
|Income and expenses|
Less Vacancy 1.5%
Net operating income
|Notes||Income annualized as of August 3, 2003. Parking revenue included in rent. Also, caretaker is paid $11,500 per year plus pays only $100 for their two-bedroom unit.|
For rent roll and income & 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.