Constructed in 1969, The Cambridge is a 53 unit, 3 storey frame apartment building featuring elevator, balconies and secure underground parking. It is situated one-half block east of Lonsdale Ave. on East 5th Street in the Lower Lonsdale area of North Vancouver. Many suites with southern exposure have panoramic views of the harbour and Vancouver.
– building serviced with 4 stop Montgomery elevator (1500 lb capacity)
– secure underground parking for 64 vehicles
– balconies/patios for each suite
– lockers for each tenant
– 3 washers, 3 dryersroof is tar & gravel (replaced 2003)
– floor coverings
The Cambridge is in need of upgrades including piping, balconies, appliances, flooring, painting exterior/interior, minor roof repairs, bathroom upgrades, landscaping, etc.
|No. units||Average size|
|Bachelor||No. units6||Average size484|
|Studio||No. units6||Average size572|
|One Bedroom||No. units38||Average size685|
|Two Bedroom||No. units3||Average size880|
|Financing||$2.3M @ 6.75% with The Bank of Montreal due September 1, 2006. (Treat as clear title-to be paid off).|
|Income and expenses|
Net operating income
|Notes||There is approximately a 20% upside on rents once renovations have been completed. 2004 income includes laundry and parking.|
For rent roll and 2003, 2004 & 2005 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.