Situated on a corner lot, the subject property is a 6-unit two level frame apartment block located in the Grandview neighbourhood of East Vancouver. The building is comprised of 1 two bedroom and 5 one bedroom suites and features 6 paved rear parking stalls and balconies/patios. Rents are below market rates for the area.
Located on the southeast corner of Pender Street and Mclean Drive, the site is in close proximity to transportation routes one block south of East Hastings and two blocks west of Commercial Drive.
As the property was self managed, we estimated a caretaker expense of $3240/year and a repairs & maintenance expense of $3900 ($650/unit/year).
|One Bedroom||No. units5|
|Two Bedroom||No. units1|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
|Notes||Income annualized as of November 2009.|
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.