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Henry Manor

1306 Cardero Street, Vancouver

SOLD $3,102,000

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Price$3,495,000

Units23

Year built1957

Lot size66' X 131 (8,646 sq. ft.)

ZoningRM-5A

Price/unit$151,956

Cap rate4.09%

GIM15.52

PID009-180-371

Legal descriptionLot 11 Blk 51 DL 185 Plan 92

Sale price$3,102,000

Sale date06/29/2004

Overview

Henry Manor is a 23 suite apartment building located on the south east corner of Cardero and Harwood, situated in a prime West End area, only 1 block to Beach Avenue and English Bay. Minutes to Davie St., transportation and shopping. Excellent water views from roof decks and some suites.

Improvements

– 3 storey frame walk up apartment building
– Constructed in 1957 -4 roof deck patios (3 are private)
– Complete laundry & storage facilities
– Secured underground parking for 11 cars

Recent Upgrades

– Building repiped 2002
– Roof & decks replaced (torch on) 2000
– Intercom replaced 2003
– Newer hot water tank 2001
– Bike rack in laundry room
– 14 suites have undergone substantial upgrades including new blinds, mirrored doors, renewed hardwood, new kitchen floors, fridges/stoves, over head fans, cabinet facings, counter tops, sinks, toilets, floor to ceiling tile, medicine cabinets lighting, pedestal sinks, etc.

Show less

	No. units
Bachelor	No. units4
One Bedroom	No. units14
Two Bedroom (incl 1 P/H)	No. units5

Financials

Financing	Clear Title.
Assessment 2003	Land Building Total	Land$1,227,000 Building$902,000 Total$2,129,000
Taxes 2003	$13,740.93
Income and expenses	Gross income Less Vacancy 3% Effective gross Expenses Net operating income	Gross income$225,144 Vacancy(6,754) Effective gross$218,390 Operating expenses(75,541) Net operating income$142,849
Notes	Income annualized as of May 1, 2004. The actual 2003 expenses are normalized and do not include property management. Also caretaker costs adjusted to $12,420. Rents approximately 15% under 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.