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The Rox Holme

3122 Quebec Street, Vancouver

SOLD $2,305,000

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Price$2,195,000

Units13

Year built1960

Lot size66' x 116.1' (7,662.6 sq. ft.)

ZoningRM-4

Price/unit$168,846

Cap rate4.2%

GIM16.4

PID010-978-925

Legal descriptionLot D of Lots 1 & 2, Block 55, DL 302, Plan 6105

Sale price$2,305,000

Sale date01/01/2008

Overview

Built in 1960, The Rox Holme is a clean, well maintained three storey frame apartment building totalling 13 units located in Vancouver’s vibrant Mount Pleasant neighbourhood. Features surface parking, hardwood floors, storage and many upgrades.

Location

The Rox Holme is situated on a corner lot on the east side of Quebec and 15th Avenue in Vancouver’s Mount Pleasant neighborhood; only one block west of Main Street. Major transportation routes in a north/south direction are along Main Street, Kingsway and Fraser Street, with east/west travel provided by Broadway, 12th & 16th Avenues.

A wide range of retail amenities, supermarkets, community services, restaurants and excellent bus transportation characterize this vibrant community. A sampling of the amenities within walking distance to the subject property include IGA, Starbucks, Cobs Bread, Blockbuster Video and Dairy Queen along Main Street. Community services include Cavell Gardens, a senior care home a few blocks away on 13th Avenue and Sophia. Bethlehem Lutheran Church/Montessori Pre-School is situated on 15th and Sophia, and Robson Park is just a short walk. Mount St. Joseph Hospital is just steps away on Prince Edward and 13th Avenue. The well-known Heritage Hall is at 15th and Main.

Features

– Outstanding central location in Mount Pleasant, close to numerous amenities including excellent transportation, shopping, restaurants, schools, churches, a hospital, seniors’ care home
– Attractive lobby with slate tiles, intercom and mailboxes
– Rear surface parking for 6 vehicles
– Nicely landscaped with mature trees
– Laundry room, electrical, furnace, bike storage & locker room facilities on main floor

Recent Upgrades

– Ongoing replacement of appliances, flooring, cabinets, countertops, etc.
– New fence built at rear (2008)
– Exterior of building painted (2008)
– New hot water tank (Dec 2007)

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	No. units
One Bedroom	No. units13

Financials

Financing	A CMHC insured first mortgage held by Peoples Trust with an outstanding balance of approximately $752,000 at an interest rate of 5.3%. per annum due July 1st, 2013 with monthly blended P.I. payments of $5,017.
Assessment 2007	Land Building Total	Land$1,116,000 Building$430,000 Total$1,546,000
Taxes 2007	$6,750.83
Income and expenses	Effective gross Operating expenses Net operating income	Effective gross$133,632 Operating expenses(41,169) Net operating income$92,463
Notes	Income annualized as of April 2008. For a 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.