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Beach Park

2280 Cornwall Avenue, Vancouver

SOLD $4,650,000

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Price$5,500,000

Units24

Year built1973 approx.

Lot size100' x 120'

ZoningRM-4

PID003-410-307

Legal descriptionLot E, Blk 193, DL 526, Dist. 36, PL 848

Sale price$4,650,000

Sale date01/01/2005

Overview

Beach Park is a 24 suite frame apartment building located in Kitsilano directly across Kits Beach on Cornwall Avenue. Unparalleled views and location. Rarely is such a prime investment available in the marketplace.

Improvements

Built in approximately 1973, the subject property features balconies/patios for each suite, secure underground parking for 31 cars, lockers, in-suite storage, elevator and bike storage area. The attractive stucco and brick exterior, well maintained gardens, and unique location make this a special offering.

Recent Upgrades

– Most stoves & fridges replaced last 13 years
– 50% countertops replaced
– Hall carpets like new
– Piping renewal in 1998
– New domestic H/W tank
– Suite carpets replaced as needed (40% renewed approx)
– 8 year old Super Hot furnace

Show less

	No. units
Bachelor	No. units2
One Bedroom	No. units22

Financials

Financing	Clear title.
Assessment 2004	Land Building Total	Land$2,580,000 Building$361,000 Total$2,941,000
Taxes 2003	$17,672.02
Income and expenses	Gross income 2003 Expenses stabilized Net operating income	Gross income$287,795 Operating expenses(87,500) Net operating income$200,295
Notes	Income annualized as of August 2004. Includes parking $11,109 and laundry $2,966. For rent roll, 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.