Maple Leaf Apartments
1876 West Broadway, Vancouver
SOLD $3,000,000
Overview
Rebuilt in 1991, Maple Leaf Apartments is a wood frame, 21-suite apartment building located in Vancouver’s popular Kitsilano neighbourhood. Zoned C-3A Commercial District; conditional use allows for bed & breakfast accommodation and furnished suites. Tenants pay electric heat. Excellent suite mix.
Location
The subject property is located on the south side of West Broadway between Burrard and Cypress Streets, in the Kitsilano neighbourhood of Vancouver. Close to shopping, cafes, restaurants, bus transportation and entertainment. Five minutes to Downtown Vancouver and 10 minutes to UBC.
Improvements
– 3 levels (ground, 1st and 2nd floors) with ground floor approx. half below ground
– beautifully retiled entrance
– 7 counter tops replaced with granite
– 3 carpets replaced (2005)
– tar and gravel roof
– electric baseboard heating (tenants pay heat)
– 175 litre electric hot water heater (2002) in each suite
– 270 litre electric hot water tank (2002) in laundry room
– two pairs of coin operated washers/dryers (owned) in laundry room
– 200-amp service. Suites separately metered except suite G03 (on house meter).
– Fire Protection: alarm system, smoke detectors, emergency lighting and sprinklers
– storage lockers and bike storage
– Floor areas: 4,595 sq. ft. per floor; 13,782 sq. ft. total
Suite mix
| No. units | |
|---|---|
| One Bedroom | No. units13 |
| Two Bedroom | No. units6 |
| Two Bedroom + Den | No. units2 |
Financials
| Financing | A CMHC insured mortgage of approx. $2,050,000 @ 5.4% with ING. P.I. payments of $12,447.07/month. Due July 2014. | |
|---|---|---|
| Assessment 2006 | Land Building Total | Land$1,375,000 Building$1,004,000 Total$2,379,000 |
| Taxes 2006 | $12,728.00 | |
| Income and expenses | Gross income Less Vacancy 2% Effective gross 2005 Expenses Net operating income | Gross income$209,500 Vacancy(4,190) Effective gross$205,310 Operating expenses(65,090) Net operating income$140,220 |
| Notes | Income annualized as of June 2006. 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.
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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