11682 224th Street, Maple Ridge.pdf
Maple Ridge
11682 224th Street, Maple Ridge $1,998,000 21 Unit Apartment Building Suite Mix 16 - 1 Bedroom 5 - 2 Bedroom
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
BUILDING SUMMARY 11682 224th Street, Maple Ridge “Mariner’s Watch” is located in a growing Maple Ridge area, walking distance to a pedestrian tunnel that leads to the pier and river, one block to downtown, shops, transportation and West Coast Express. This 2.5 storey building is wood construction with vinyl exterior and has a 4 ply torch on roof that was done 12 years ago. It is approximately 10,562 square feet of building that sits on a nicely landscaped property surrounded by new fencing. The windows are double glazed and were all replaced approximately 8 years ago. There is a covered front entrance that has stamped concrete, security and intercom systems. The laundry room is located on the main floor and has 2 washers and 2 dryers which are owned by the building. The building is electric heat with in suite, separately metered heat controls. The electrical box is circuit breakers. The courtyard is new stamped concrete which leads to the suites. Improvements also include new decks with new aluminum railings and new soffits, new stairs and new facia. The fire system has also been brought up to the standard safety code with a new computerized system. Units are very bright and have extra storage for the owners, heat detectors, intercoms, and venetian blinds for window coverings. Living rooms and bedrooms are carpeted and have baseboard mouldings. Kitchens have lino flooring, arborite counter tops, single sinks, replaced kitchen cabinets, 24” frost free fridges, and 40% of the suites have 30” stoves with the balance having 24” stoves. Bathrooms have lino flooring, fibreglass tub surrounds and pedestal sinks. Some suites also have water views of the Fraser River. The tenants currently pay all utilities. Many upgrades have been done to these units which make it a great opportunity in the growing area of Maple Ridge.
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
PROPERTY INFORMATION 11682 224th Street, Maple Ridge Legal Description
PID 000-991-210 Lot A DL 398 Land District 36 Plan 6689
Suite Mix
16 - 1 Bedroom 5 - 2 Bedroom 21 Units Total
Chattels
21 fridges, 21 stoves 2 washers, 2 dryers
Zoning
RM-2
Lot Size
60’ x 147’ (8,820 sq.ft.)
Age
45 years (Constructed 1967)
Property Taxes 2012
$15,642.55
Assessments 2013
$ 299,000 Land $1,205,000 Improvements $1,504,000
Contracts
Smithrite, Phelps
Financial Encumbrances
CIBC first mortgage $960,000 3% interest rate due April 2017
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
FINANCIAL SUMMARY 11682 224th Street, Maple Ridge Annual Revenue
Current
Rental Income (Rents x 12) Laundry Less Vacancy Rate (4%) Total Annual Gross Revenue
$
162,300 $ 4,800 (6,684) 160,416 $
$
Annual Expenses
2011
Bank Business Tax & License Cleaner Hydro Insurance Property Tax Laundry Machines Repairs & Maintenance(est.) Water & Sewer Total Annual Expenses Total Annual Net Revenue Capitalization Rate Expense Ratio Purchase Price / Per Unit
Projected 169,800 4,800 (6,984) 167,616 Projected
$ $
137 600 4,200 1,032 4,896 13,640 1,440 15,750 3,200 44,895 $ 115,521 $
137 600 4,200 816 5,007 15,642 0 15,750 3,200 45,352 122,264
$
5.8% 28% 1,998,000 $
6.1% 27% 95,142
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
RENT ROLL – September 1, 2012 11682 224th Street, Maple Ridge Unit Number
Unit Type
Monthly Rent
Market Rent
101 102 103 104 105 201 202 203 204 205 206 207 208 301 302 303 304 305 306 307 308
1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom
650 600 600 600 750 750 600 600 600 650 600 600 750 750 625 575 600 625 625 625 750
650 650 650 650 750 750 650 650 650 650 650 650 750 750 650 650 650 650 650 650 750
$13,525
$14,150
TOTAL
Please note that our market rents are based on research. We strongly recommend that you do your own research as this is only to be used as a guideline.
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
LOCATION 11682 224th Street, Maple Ridge
$1,998,000
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
11682 224th Street, Maple Ridge $1,998,000 21 Unit Apartment Building Suite Mix 16 - 1 Bedroom 5 - 2 Bedroom
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
BUILDING SUMMARY 11682 224th Street, Maple Ridge “Mariner’s Watch” is located in a growing Maple Ridge area, walking distance to a pedestrian tunnel that leads to the pier and river, one block to downtown, shops, transportation and West Coast Express. This 2.5 storey building is wood construction with vinyl exterior and has a 4 ply torch on roof that was done 12 years ago. It is approximately 10,562 square feet of building that sits on a nicely landscaped property surrounded by new fencing. The windows are double glazed and were all replaced approximately 8 years ago. There is a covered front entrance that has stamped concrete, security and intercom systems. The laundry room is located on the main floor and has 2 washers and 2 dryers which are owned by the building. The building is electric heat with in suite, separately metered heat controls. The electrical box is circuit breakers. The courtyard is new stamped concrete which leads to the suites. Improvements also include new decks with new aluminum railings and new soffits, new stairs and new facia. The fire system has also been brought up to the standard safety code with a new computerized system. Units are very bright and have extra storage for the owners, heat detectors, intercoms, and venetian blinds for window coverings. Living rooms and bedrooms are carpeted and have baseboard mouldings. Kitchens have lino flooring, arborite counter tops, single sinks, replaced kitchen cabinets, 24” frost free fridges, and 40% of the suites have 30” stoves with the balance having 24” stoves. Bathrooms have lino flooring, fibreglass tub surrounds and pedestal sinks. Some suites also have water views of the Fraser River. The tenants currently pay all utilities. Many upgrades have been done to these units which make it a great opportunity in the growing area of Maple Ridge.
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
PROPERTY INFORMATION 11682 224th Street, Maple Ridge Legal Description
PID 000-991-210 Lot A DL 398 Land District 36 Plan 6689
Suite Mix
16 - 1 Bedroom 5 - 2 Bedroom 21 Units Total
Chattels
21 fridges, 21 stoves 2 washers, 2 dryers
Zoning
RM-2
Lot Size
60’ x 147’ (8,820 sq.ft.)
Age
45 years (Constructed 1967)
Property Taxes 2012
$15,642.55
Assessments 2013
$ 299,000 Land $1,205,000 Improvements $1,504,000
Contracts
Smithrite, Phelps
Financial Encumbrances
CIBC first mortgage $960,000 3% interest rate due April 2017
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
FINANCIAL SUMMARY 11682 224th Street, Maple Ridge Annual Revenue
Current
Rental Income (Rents x 12) Laundry Less Vacancy Rate (4%) Total Annual Gross Revenue
$
162,300 $ 4,800 (6,684) 160,416 $
$
Annual Expenses
2011
Bank Business Tax & License Cleaner Hydro Insurance Property Tax Laundry Machines Repairs & Maintenance(est.) Water & Sewer Total Annual Expenses Total Annual Net Revenue Capitalization Rate Expense Ratio Purchase Price / Per Unit
Projected 169,800 4,800 (6,984) 167,616 Projected
$ $
137 600 4,200 1,032 4,896 13,640 1,440 15,750 3,200 44,895 $ 115,521 $
137 600 4,200 816 5,007 15,642 0 15,750 3,200 45,352 122,264
$
5.8% 28% 1,998,000 $
6.1% 27% 95,142
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
RENT ROLL – September 1, 2012 11682 224th Street, Maple Ridge Unit Number
Unit Type
Monthly Rent
Market Rent
101 102 103 104 105 201 202 203 204 205 206 207 208 301 302 303 304 305 306 307 308
1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom
650 600 600 600 750 750 600 600 600 650 600 600 750 750 625 575 600 625 625 625 750
650 650 650 650 750 750 650 650 650 650 650 650 750 750 650 650 650 650 650 650 750
$13,525
$14,150
TOTAL
Please note that our market rents are based on research. We strongly recommend that you do your own research as this is only to be used as a guideline.
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
LOCATION 11682 224th Street, Maple Ridge
$1,998,000
BILL GOOLD or PATRICK MCEVAY 604-263-2823 [email protected] RE/MAX BILL GOOLD REALTY 410 North Tower, 650 West 41st Avenue Vancouver, BC V5Z 2M9
PHONE 604-263-2823 FAX 604-263-1057 BILLGOOLDREALTY.COM
Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
