Overview
Built in 1966, the subject property is a 9 suite frame apartment building located in Kitsilano on West 5th Ave., between Maple St. & Arbutus St. Five blocks to Kits Beach and close to public transportation, shops & restaurants.
Improvements
The subject property is a 3 storey wood frame building with stucco exterior and a newer torch-on roof. It is heated by a gas fired boiler replaced in 2003 with a newer commercial “quick recovery” hot water tank. The foyer is slate and the hallways feature newer commercial grade carpets. Three suites have been recently renovated and the remaining six suites are in average condition rented below market. Suites have hardwood floors, balconies/private yards and many newer stoves & fridges. Laundry machines owned by building. Parking for 5 cars.
Suite mix
| No. units | |
|---|---|
| Bachelor (unauthorized) | No. units1 |
| One Bedroom | No. units7 |
| Two Bedroom | No. units1 |
Financials
| Assessment 2005 | Land Building Total | Land$745,000 Building$455,000 Total$1,200,000 |
|---|---|---|
| Taxes 2004 | $8,207.71 | |
| Income and expenses | Effective gross Operating expenses Net operating income | Effective gross$94,116 Operating expenses(18,663) Net operating income$75,483 |
| Notes | Please note that expenses do not include repairs & maintenance, vacancy allowance, property management or caretaker. | |
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
Mortgage calculator
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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