Built in 1966, The Somerset is a 25 suite frame apartment building in good condition centrally located in New Westminster, close to excellent shopping, school & Moody Park.
The subject property features an attractive entrance, elevator, balconies or patios, 3 bedroom penthouse (contains in-suite washer/dryer) and 11 covered & 14 uncovered parking stalls.
– Piping replaced on 2nd floor (each suite has shutoffs)
– Secure keyless entry laundry facilty
– Ongoing appliance, countertop & flooring renewal
– Energy saver exhaust from boiler
– All landings tiled
– Drop ceilings providing good access
– 3 sprinklered locker room
– Alluminum soffits
|One Bedroom||No. units19|
|Two Bedroom||No. units2|
|Three Bedroom||No. units1|
|Three Bedroom P/H||No. units1|
|Income and expenses|
Projected Expenses (35%)
Net operating income
|Notes||Income based on actual 8 month statement for 2004.|
Expenses have been projected at $70,000 (35% of gross revenue).
For rent roll & income & expenses for 2003 & 2004 (8 months), 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.