Overview
A rare offering! Tsawwassen Villa is an attractive and exceptionally well maintained three-storey, frame, 20 unit rental apartment building located in Tsawwassen. Built in 1970, the property features a great suite mix, beautiful landscaping, balconies/patios, surface parking, lockers and an extensive program of upgrades throughout the building.
Location
Tsawwassen Villa is located 15B Avenue, one block west of 56th Street and just south of HWY-17. Minutes to shopping, major transportation routes, parks, Tsawwassen Golf Club & Beach Grove Golf Club & US border.
Improvements
– Separate laundry room – 2 washers / 2 dryers
– Balconies/patios
– Workshop area
– Radiant hot water heat – gas fired (outside temperature control)
– Excellent suite mix (13-1’s, 7-2’s)
– Stucco exterior and wood siding
– 27 parking stalls (24 open; 3 garage)
– Lockers
– Separate bike storage
– 8 suites have fireplaces
– 8 suites have dishwashers
– 5 suites have 2 bathrooms
Recent Upgrades
– Tar & gravel roof 1997
– Painting – stucco 1992
– Painting trim & siding 2001 & 2006
– Painting trim 2006
– Vinyl decks & walkways 1992
– Intercom system 1988
– Emergency light system 1982
– Power Smart 1992
– Domestic Dettson water boiler 1996
– Washing machine – Maytag 1996
– Dryers – Maytag 1995
– All bathrooms – new tub surrounds, lino, light fixtures, some new plumbing fixtures
– New shower stalls and plumbing in the two bedroom units
– All kitchens have refaced cabinets, new stoves, fans, fridges, counter tops & sinks in most, lino, light fixtures
– New cabinets in #101 and #301
– All units have door and window screens, new drapes
– All carpets in suites replaced as required
– Storm windows on five end suites for noise control (1988)
– Drainage inside building connects to perimeter drainage
Suite mix
| No. units | Size range | |
|---|---|---|
| One Bedroom | No. units13 | Size range635 - 690 |
| Two Bedroom | No. units7 | Size range860 - 1100 |
Financials
| Financing | None. | |
|---|---|---|
| Assessment 2007 | Land Building Total | Land$719,000 Building$906,000 Total$1,625,000 |
| Taxes 2006 | $9,905.83 | |
| Income and expenses | Gross income Less Vacancy 1% Effective gross Operating expenses Net operating income | Gross income$189,300 Vacancy(1,893) Effective gross$187,407 Operating expenses(57,566) Net operating income$129,841 |
| Notes | Income annualized as of August 2007. 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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