Overview
Normandy House is a well maintained 23-suite 3-storey plus penthouse apartment building located just two blocks east of Vancouver’s prominent South Granville shopping district.
Built in 1960, the property is situated on the southeast corner of Birch Street & 13th Avenue on a 12,500 SF RM-3 zoned site. The building features a suite mix of 4 bachelors, 18 one-bedrooms and 1 one-bedroom + den. Other highlights include one elevator, two decks (one for penthouse & one common), storage lockers for all units, bicycle room, 2 sets of leased washer/dryers and 9 surface level parking stalls located at the rear.
Upgrades
The building has undergone a series of capital upgrades throughout the years including roof replacement (2002), plumbing retrofit (1996), new municipal water line connection (2011), Super Hot furnace (1996) and replacement of elevator’s hydraulic system (2015), to name a few. Nearly 50% of the suites have been updated throughout the years. Common areas have also been updated with new carpets (2006) and new paint (2017).
Location
Normandy House is conveniently located between Granville & Oak Street just one block south of 12th Avenue, affording quick access to highly concentrated employment nodes such as the Broadway Corridor or Vancouver General Hospital. West Broadway and West 12th Avenue form the major east-west traffic arteries across the city (direct bus access to UBC), while Granville & Oak Street are major north-south arterials providing access to and from the downtown core and South Richmond (YVR). Additionally, the property is within short walking distance to the future Broadway Skytrain scheduled for completion in 2025.
Shopping is available in the immediate area just steps away along Granville Street and West Broadway. South Granville’s prime retail corridor is one of Vancouver’s trendiest shopping destinations and offers tenants easy access to numerous amenities, art galleries, coffee shops, restaurants, banks and theatre, to name a few.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
Bachelor | No. units4 | Average rent$1,005 | |
1 bedroom | No. units18 | Average rent$1,340 | |
1 bedroom + den | No. units1 | Average rent$1,600 |
Financials
Financing | Treat as clear title. | |
---|---|---|
Taxes 2020 | $25,418 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income $362,388 Vacancy(1,812) Effective gross$360,576 Operating expenses(112,239) Net operating income$248,337 |
Notes | For a rent roll and expense statement, please contact listing agent. |
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
Manraj Dosanjh
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
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Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Manraj Dosanjh
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3