Don Lynn Apartments
1025 West 13th Avenue, Vancouver
Built in 1952, Don Lynn Apartments is a 9 unit two storey frame apartment building in superb condition located in Vancouver’s popular South Granville area. Rents significantly below market–major upside!
The subject property is located on the north side of West 13th Avenue, a half block west of Oak Street and 4 blocks east of Granville Street. Close to Vancouver General Hospital, shopping, transportation, schools and parks.
– hardwood floors
– 5 parking stalls
– 9 full storage lockers
– laundry leased from Coinamatic (1 washer/dryer)
– intercom system to all suites
– roof replaced 1998
– plumbing completely replaced 2001
– appliances in good condition
– cabinets/countertops: 2 suites renued
– fridges: 6 recently replaced
– stoves: 3 recently replaced
– bathrooms: 3 recently upgraded
– dishwashers: 2 units
– aluminum siding-low maintenance
– Teckmar system in furnace room
– Unit 5 can be made into a 2 bedroom by adding door to enter into office
|One Bedroom||No. units7|
|Two Bedroom||No. units1|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
|Notes||Income annualized as of December 1, 2005.|
Old rents are approx. 45% below market based on recent rentals in the area including the subject property (a 1-Br was just rented for $1100/month). All tenants rented month-to-month.
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.