Mountain View Apartments
2182 West 39th Avenue, Vancouver
Price reduced by $1,680,000 (previously asking $12,980,000)
Rare opportunity to acquire a 21-suite three-storey apartment building in the heart of Vancouver’s Kerrisdale neighbourhood. Constructed in 1959 and improved on an 11,850 SF lot, the property is well-maintained and features hardwood flooring, 10 surface parking, 21 tenant storage lockers, 2 sets of washers/dryers and 8 balconies. There is an opportunity to buy the shares of the company holding title to the property.
The property is well maintained and has featured a program of upgrades over the years to both the suites and common areas. The majority of suites have had some renovations; the widows have been updated to vinyl frames (2003); the roof is torch-on (approx. 10 years old); the majority of plumbing has been upgraded to new copper and PEX; and the boiler replaced (2003)
Kerrisdale, located in the heart of Vancouver’s affluent Westside, is one of Canada’s most established and wealthy communities. The subject property is located on the south side of West 39th Avenue between West Boulevard and Yew Street, only 3 blocks to the Kerrisdale Community Centre. Only two blocks to West 41st Avenue, considered one of the best upscale high-end fashion and retail shopping districts in the City. Walking distance to Point Grey High School, Maple Grove Park, bus transportation, restaurants, a branch of the Vancouver Public Library and West Main Health Unit.
|No. units||Average size||Average rent|
|Bachelor||No. units7||Average rent$1,047|
|One bedroom||No. units5||Average rent$1,350|
|Two bedroom||No. units9||Average rent$1,696|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
Gross income $359,586
The property is currently self-managed. For current rent roll and 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.