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Bridgeview Court

8666 Heather Street, Vancouver

SOLD $1,930,000

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Price$2,050,000

Units23

Year built1970

Lot size14,000 sq. ft.

ZoningRM-3A

Price/unit$89,130

Cap rate5.7%

GIM11

PID010-788-522; 010-788-557

Legal descriptionLots 2&3, Blk D, LD 36, Subs. Lot 23, DL 319,323,324 E/P 6348, Plan 6868

Sale price$1,930,000

Sale date02/21/2004

Overview

Bridgeview Court is a 23 suite, 3 storey walk-up apartment building in good condition. Located in an attractive Marpole area, close to SW Marine Drive.

Improvements

This building features underground parking and balconies/patios for each tenant. There has been an ongoing and extensive schedule of improvements and repairs carried out as follows:

-20/23 suites have been completely renovated (arborite, carpets, appliances, toilets, cabinets, etc.)
-Approximately $9000 spent on each suite
-New roof in 2000
-Newer hot water tanks

Show less

	No. units
One Bedroom	No. units22
Two Bedroom	No. units1

Financials

Financing	Clear title.
Assessment 2003	Land Building Total	Land$412,000 Building$1,033,000 Total$1,445,000
Taxes 2003	$9,825.39
Income and expenses	Gross income Less Vacancy 2% Effective gross Less Expenses Net operating income	Gross income$183,584 Vacancy(3,725) Effective gross$179,859 Operating expenses(64,400) Net operating income$115,459
Notes	Income annualized as of January 2004. Tenants currently have free cable vision and do not pay for parking. As a number of suites had extensive upgrading and were vacant, the income and expenses have been stabilized to reflect market. 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.