De La Rose Apartments

336 East 7th Avenue, Vancouver

SOLD $2,200,000

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Price$2,300,000

Units18

Year built1965

Lot size99'x122'

ZoningRM-4

Price/unit$127,777

Cap rate4.5%

GIM14.7

PID015-551-491 & 015-551-504

Legal descriptionLot 6 & Lot 7 Block 42 District Lot 200A Plan 197

Sale price$2,200,000

Sale date01/01/2006

Overview

Built in 1965, De La Rose Apartments is an exceptionally well maintained 18 unit frame apartment building located in East Vancouver, just off Main Street. Features balconies/patios & parking. Rents below market.

Location

The subject property is located 2 blocks East of Main Street and half a block West of Guelf Park. Conveniently situated close to shopping, cafes & transportation. Please see map link above.

Improvements

– hardwood floors
– balconies/patios for each suite
– 13 parking stalls
– roof approx. 8 years old
– 1 washer & 1 dryer-owned by building
– new hot water tank

Show less

	No. units
Bachelor	No. units2
One Bedroom	No. units13
Two Bedroom	No. units3

Financials

Financing	Treat as clear title.
Assessment 2005	Land Building Total	Land$930,000 Building$547,000 Total$1,477,000
Taxes 2005	$8,607.00
Income and expenses	Effective gross 2004 Expenses ($2,988/unit; 35%) Net operating income	Effective gross$156,408 Operating expenses(53,784) Net operating income$102,624
Notes	Income annualized as of October 2005. For detailed information package including rent roll and financial statement, download the De la Rose Apartment Executive Summary.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.