1396 West 11th Avenue, Vancouver.pdf
BUILDING SUMMARY th
1285 Martin Street, White Rock APARTMENT BUILDING FOR SALE
1396 West 11 Avenue Vancouver, BC
LISTED PRICE
$4,700,000 Property Highlights: Suite Mix: 20 Units 6 Bachelor | 12 - 1 Bedroom | 2 - 2 Bedroom
• • • •
Prime South Granville Location Walking Distance to Shops & Restaurants Character Building Great Exposure on Hemlock Street
Bill Goold | James Blair | Patrick McEvay | David Venance
CONTACT PATRICK MCEVAY FOR FURTHER DETAILS 604-263-2823 | [email protected] 410 – North Tower , 650 West 41st Avenue Vancouver, BC V5Z 2M9
RE/MAX Bill Goold Realty billgooldrealty.com Selling Apartment Buildings as if they were our own!
BUILDING SUMMARY
1396 West 11th Avenue, Vancouver
CIVIC ADDRESS
1396 West 11th Avenue Vancouver, V6H 1K8
PID
013-546-848 / 013-546-741
NEIGHBORHOOD
Fairview
LEGAL DESCRIPTION
AMENDED LOT C BLOCK 392 DISTRICT LOT 526 PLAN 2657 LOT A BLOCK 392 DISTRICT LOT 526 PLAN 2659
LOT SIZE
50’ x 125’ (6,250 sq. ft.)
20 RESIDENTIAL UNITS
6- Bachelor 12- 1 Bedroom 2- 2 Bedroom
CHATTLES
20 Fridges, 20 Stoves, 2 Washers, 2 Dryers
ZONING
RM-3 Multiple Family Dwelling
CONSTRUCTED
1925
PROPERTY TAXES 2014
$15,149
ASSESSMENT 2014
Land Improvements Total
$1,674,000 $2,427,000 $4,101,000
UNIT DESCRIPTION The “Winston” is a three storey walk up apartment building situated on a corner lot, within walking distance to Granville Street with luxury shopping and restaurants, and is minutes to downtown. This is a beautiful character brick building with wood trim, and single glazed windows. It had a Heritage C listing in 1986. This location is in a highly desirable area of Vancouver and attracts quality tenants. It is also kitty corner to a seniors’ center. There is a covered entrance with an intercom system and double glass doors that lead to the bright lobby which has ceramic tile and oak hand rails. The hallways have hardwood floors with carpets, chair rails, and the stair wells have stained glass windows to enhance the natural light. There is a spacious laundry room with two Huebsch washers and two Huebsch dryers (one set new in 2012) which are owned by the building. The tenants have access to the 11 storage lockers. There is a superhot boiler to heat the building and a separate giant hot water tank for the domestic hot water. The oil tank was drained and steam cleaned in 1998. The electrical boxes are fuses. Most suites have beautiful hardwood floors with 8” baseboard mouldings, nice doors with character moulding, and photo electric smoke and heat detectors that were installed in 2003. Kitchens have lino floors, refurbished wood cabinets, single sinks, 24” frost free fridges and 24” gas stoves. Some of the units have nooks and six of the units have fireplaces. Bathrooms have claw bath tubs with pedestal sinks and built in mirrored medicine cabinets. Some of the units have a very large 4’ x 13’ closet with window, that can be used as a den or a dressing room. Please note that this building had four suites added prior to 1967.
1396 West 11th Avenue, Vancouver
RENT ROLL
1396 West 11th Avenue, Vancouver
September 2014 UNIT
UNIT TYPE
SQUARE FOOTAGE
MONTHLY RENT
1
1 Bedroom
610
975
2
1 Bedroom
588
1,025
3
Bachelor
362
815
4
1 Bedroom
516
925
5
1 Bedroom
454
950
6
2 Bedroom
697
1450
7
1 Bedroom
660
805
8
Bachelor
367
825
9
1 Bedroom
539
1015
10
Bachelor
367
850
11
1 Bedroom
616
1,035
12
1 Bedroom
627
1,005
14
2 Bedroom
737
1,520
15
1 Bedroom
655
1,010
16
Bachelor
367
830
17
1 Bedroom
539
1,000
18
Bachelor
367
850
19
1 Bedroom
616
1,050
20
1 Bedroom
627
915
4A
Bachelor
408
815
10,719
$19,665
TOTAL
FINANCIAL SUMMARY
REVENUE Rental Income Laundry (estimated) Gross Revenue Less: Vacancy (1%) EFFECTIVE GROSS INCOME EXPENSES Business License Garbage Gas Hydro Insurance Micsellaneous Expenses Property Taxes Repair & Maintenance Water and Sewage TOTAL EXPENSES
NET INCOME
Asking Price Gross Rent Multiplier
1396 West 11th Avenue, Vancouver
$ YEARLY
$ YEARLY/UNIT
235,980 3,600 239,580 (2,360) 237,220
11,799 180 11,979 (118) 11,861
1,300 1,526 12,068 1,162 7,701 11,680 14,400 14,707 3,212 67,755
65 76 603 58 385 584 720 735 161 3,388
$169,465
$4,700,000 19.81
$235,000
NOTES: The above Annual expenses do not include management fees, payroll, vehicle or office expenses. This property is run from a central office where the payroll covers various services including centralized caretaking, maintenance and additional repairs. Purchasers are advised to seek independent advice regarding operating costs of similar buildings before making an offer to purchase.
NEIGHBOURHOOD
1396 West 11th Avenue, Vancouver
10, N10, 9, 99-Bline, 14, 16
Restaurants| Bars| Coffee Shops Vij’s Siena Restaurant Starbucks The Marquis
Groceries Sun On Market Meinhardt Fine Foods Supplement Garden Shopping West Broadway Shopping Pacific Center Granville Island
Parks Granville Park Shaughnessy Park Choklit Park
Errands | Entertainment The Waterfall Building Elan Fine Art Limited Scotiabank Pharmasave Bill Goold | James Blair | Patrick McEvay | David Venance
604-263-2823 | [email protected]
Date prepared: October 1, 2014
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.
1285 Martin Street, White Rock APARTMENT BUILDING FOR SALE
1396 West 11 Avenue Vancouver, BC
LISTED PRICE
$4,700,000 Property Highlights: Suite Mix: 20 Units 6 Bachelor | 12 - 1 Bedroom | 2 - 2 Bedroom
• • • •
Prime South Granville Location Walking Distance to Shops & Restaurants Character Building Great Exposure on Hemlock Street
Bill Goold | James Blair | Patrick McEvay | David Venance
CONTACT PATRICK MCEVAY FOR FURTHER DETAILS 604-263-2823 | [email protected] 410 – North Tower , 650 West 41st Avenue Vancouver, BC V5Z 2M9
RE/MAX Bill Goold Realty billgooldrealty.com Selling Apartment Buildings as if they were our own!
BUILDING SUMMARY
1396 West 11th Avenue, Vancouver
CIVIC ADDRESS
1396 West 11th Avenue Vancouver, V6H 1K8
PID
013-546-848 / 013-546-741
NEIGHBORHOOD
Fairview
LEGAL DESCRIPTION
AMENDED LOT C BLOCK 392 DISTRICT LOT 526 PLAN 2657 LOT A BLOCK 392 DISTRICT LOT 526 PLAN 2659
LOT SIZE
50’ x 125’ (6,250 sq. ft.)
20 RESIDENTIAL UNITS
6- Bachelor 12- 1 Bedroom 2- 2 Bedroom
CHATTLES
20 Fridges, 20 Stoves, 2 Washers, 2 Dryers
ZONING
RM-3 Multiple Family Dwelling
CONSTRUCTED
1925
PROPERTY TAXES 2014
$15,149
ASSESSMENT 2014
Land Improvements Total
$1,674,000 $2,427,000 $4,101,000
UNIT DESCRIPTION The “Winston” is a three storey walk up apartment building situated on a corner lot, within walking distance to Granville Street with luxury shopping and restaurants, and is minutes to downtown. This is a beautiful character brick building with wood trim, and single glazed windows. It had a Heritage C listing in 1986. This location is in a highly desirable area of Vancouver and attracts quality tenants. It is also kitty corner to a seniors’ center. There is a covered entrance with an intercom system and double glass doors that lead to the bright lobby which has ceramic tile and oak hand rails. The hallways have hardwood floors with carpets, chair rails, and the stair wells have stained glass windows to enhance the natural light. There is a spacious laundry room with two Huebsch washers and two Huebsch dryers (one set new in 2012) which are owned by the building. The tenants have access to the 11 storage lockers. There is a superhot boiler to heat the building and a separate giant hot water tank for the domestic hot water. The oil tank was drained and steam cleaned in 1998. The electrical boxes are fuses. Most suites have beautiful hardwood floors with 8” baseboard mouldings, nice doors with character moulding, and photo electric smoke and heat detectors that were installed in 2003. Kitchens have lino floors, refurbished wood cabinets, single sinks, 24” frost free fridges and 24” gas stoves. Some of the units have nooks and six of the units have fireplaces. Bathrooms have claw bath tubs with pedestal sinks and built in mirrored medicine cabinets. Some of the units have a very large 4’ x 13’ closet with window, that can be used as a den or a dressing room. Please note that this building had four suites added prior to 1967.
1396 West 11th Avenue, Vancouver
RENT ROLL
1396 West 11th Avenue, Vancouver
September 2014 UNIT
UNIT TYPE
SQUARE FOOTAGE
MONTHLY RENT
1
1 Bedroom
610
975
2
1 Bedroom
588
1,025
3
Bachelor
362
815
4
1 Bedroom
516
925
5
1 Bedroom
454
950
6
2 Bedroom
697
1450
7
1 Bedroom
660
805
8
Bachelor
367
825
9
1 Bedroom
539
1015
10
Bachelor
367
850
11
1 Bedroom
616
1,035
12
1 Bedroom
627
1,005
14
2 Bedroom
737
1,520
15
1 Bedroom
655
1,010
16
Bachelor
367
830
17
1 Bedroom
539
1,000
18
Bachelor
367
850
19
1 Bedroom
616
1,050
20
1 Bedroom
627
915
4A
Bachelor
408
815
10,719
$19,665
TOTAL
FINANCIAL SUMMARY
REVENUE Rental Income Laundry (estimated) Gross Revenue Less: Vacancy (1%) EFFECTIVE GROSS INCOME EXPENSES Business License Garbage Gas Hydro Insurance Micsellaneous Expenses Property Taxes Repair & Maintenance Water and Sewage TOTAL EXPENSES
NET INCOME
Asking Price Gross Rent Multiplier
1396 West 11th Avenue, Vancouver
$ YEARLY
$ YEARLY/UNIT
235,980 3,600 239,580 (2,360) 237,220
11,799 180 11,979 (118) 11,861
1,300 1,526 12,068 1,162 7,701 11,680 14,400 14,707 3,212 67,755
65 76 603 58 385 584 720 735 161 3,388
$169,465
$4,700,000 19.81
$235,000
NOTES: The above Annual expenses do not include management fees, payroll, vehicle or office expenses. This property is run from a central office where the payroll covers various services including centralized caretaking, maintenance and additional repairs. Purchasers are advised to seek independent advice regarding operating costs of similar buildings before making an offer to purchase.
NEIGHBOURHOOD
1396 West 11th Avenue, Vancouver
10, N10, 9, 99-Bline, 14, 16
Restaurants| Bars| Coffee Shops Vij’s Siena Restaurant Starbucks The Marquis
Groceries Sun On Market Meinhardt Fine Foods Supplement Garden Shopping West Broadway Shopping Pacific Center Granville Island
Parks Granville Park Shaughnessy Park Choklit Park
Errands | Entertainment The Waterfall Building Elan Fine Art Limited Scotiabank Pharmasave Bill Goold | James Blair | Patrick McEvay | David Venance
604-263-2823 | [email protected]
Date prepared: October 1, 2014
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.
