DEPARTURE BAY 2805 Glenayr Drive, Nanaimo ...
DEPARTURE BAY
2805 Glenayr Drive, Nanaimo $2,250,000 17 Unit Apartment Building Suite Mix 10–1 Bedroom 6–2 Bedroom 1–3 Bedroom Penthouse BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo
“Georgia Vista Apartments” is located on the east coast of Vancouver Island in the urban center of the Departure Bay neighbourhood. It is walking distance to the beach and seawall, restaurants and shopping. The B.C. Ferry terminal is within 2 km and downtown Nanaimo within 5 km. This three storey walk up building is wood frame construction with stucco exterior which was repainted in 2011, and a two-ply torch on roof which was replaced in 1997. It also has a 2,544 sq.ft. carport/parkade structure and storage for each unit. The building has three civic addresses 2829, 2817 and 2805 Glenayr Drive. Built in 1968, it was originally comprised of 18 units and in the mid 90’s the owner converted units 5 & 6 (2829 Glenayr) into one three bedroom penthouse suite which can be easily converted back to two units if desired. The gas fired boiler provides domestic hot water and baseboard heating to each unit, and was replaced in 1997. Access to each unit is via an interior stairwell. The units have single glazed aluminum framed windows and built in vacuum. Kitchen/ bathroom cabinets and counter tops are original except for the penthouse which was renovated in the mid 1990’s. All suites have single 4-piece bathrooms and a balcony with an unobstructed ocean view. The area OCP (Official Community Plan) has restricted heights and densities of all properties below Glenayr Drive assuring that this property will maintain its stunning ocean view.
BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo Legal Description
PID 005-729-246 LT 2, Section 1, Wellington District, Plan 7401, Except Part in Plan 13990
Suite Mix 10 - 1 Bedroom 6 - 2 Bedroom 1 - 3 Bedroom P/H 17 Units Chattels
17 fridges, 17 stoves
Zoning
R-8 Medium Density Residential
Lot Size
38,915 square feet
Constructed
1968
Property Taxes 2013
$14,220
Assessments 2013
$ 573,000 Land $ 986,000 Improvements $ 1,559,000
BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo Annual Revenue
2013
Rental Income (Rents x 12) Laundry (Estimated) Less Vacancy Rate (3%) Total Annual Gross Revenue
$
187,200 3,060 (5,707) 184,553
$
Annual Expenses Advertising Insurance Licenses & Permits Management Property Tax Repairs & Maintenance Utilities Total Annual Expenses Total Annual Net Revenue
$
Capitalization Rate Expense Ratio Purchase Price / Per Unit
$ $
500 5,500 165 18,000 14,221 10,000 20,500 68,886 115,667
$
5.14% 37.32% 2,250,000 / 132,353
BILL GOOLD or JAMES BLAIR 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 – December 2013 2805 Glenayr Drive, Nanaimo
Address
Unit Type
2805 - 1 2 3 4 5 6 2817 - 1 2 3 4 5 6 2829 - 1 2
Two Bedroom One Bedroom One Bedroom Two Bedroom One Bedroom Two Bedroom One Bedroom One Bedroom One Bedroom One Bedroom One Bedroom One Bedroom Two Bedroom One Bedroom One Bedroom
*3 4 *5 & 6
(Office/ Storage)
Two Bedroom Three Bedroom (Owner occupied)
TOTAL
Monthly Rent $
Approximate Unit Size- s.f.
900 800 850 950 900 1,025 800 850 850 850 900 900 800 900
862 624 624 862 624 862 624 624 624 624 624 624 862 624
850
624
975
862
1,500
1,650
$15,600
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. * 2829 # 3 presently being used as office/storage. Market rent is $850. * 2829 # 5 & 6 presently occupied by owner. Market rent is $1,500.
BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo
$2,250,000
BILL GOOLD or JAMES BLAIR 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!
2805 Glenayr Drive, Nanaimo $2,250,000 17 Unit Apartment Building Suite Mix 10–1 Bedroom 6–2 Bedroom 1–3 Bedroom Penthouse BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo
“Georgia Vista Apartments” is located on the east coast of Vancouver Island in the urban center of the Departure Bay neighbourhood. It is walking distance to the beach and seawall, restaurants and shopping. The B.C. Ferry terminal is within 2 km and downtown Nanaimo within 5 km. This three storey walk up building is wood frame construction with stucco exterior which was repainted in 2011, and a two-ply torch on roof which was replaced in 1997. It also has a 2,544 sq.ft. carport/parkade structure and storage for each unit. The building has three civic addresses 2829, 2817 and 2805 Glenayr Drive. Built in 1968, it was originally comprised of 18 units and in the mid 90’s the owner converted units 5 & 6 (2829 Glenayr) into one three bedroom penthouse suite which can be easily converted back to two units if desired. The gas fired boiler provides domestic hot water and baseboard heating to each unit, and was replaced in 1997. Access to each unit is via an interior stairwell. The units have single glazed aluminum framed windows and built in vacuum. Kitchen/ bathroom cabinets and counter tops are original except for the penthouse which was renovated in the mid 1990’s. All suites have single 4-piece bathrooms and a balcony with an unobstructed ocean view. The area OCP (Official Community Plan) has restricted heights and densities of all properties below Glenayr Drive assuring that this property will maintain its stunning ocean view.
BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo Legal Description
PID 005-729-246 LT 2, Section 1, Wellington District, Plan 7401, Except Part in Plan 13990
Suite Mix 10 - 1 Bedroom 6 - 2 Bedroom 1 - 3 Bedroom P/H 17 Units Chattels
17 fridges, 17 stoves
Zoning
R-8 Medium Density Residential
Lot Size
38,915 square feet
Constructed
1968
Property Taxes 2013
$14,220
Assessments 2013
$ 573,000 Land $ 986,000 Improvements $ 1,559,000
BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo Annual Revenue
2013
Rental Income (Rents x 12) Laundry (Estimated) Less Vacancy Rate (3%) Total Annual Gross Revenue
$
187,200 3,060 (5,707) 184,553
$
Annual Expenses Advertising Insurance Licenses & Permits Management Property Tax Repairs & Maintenance Utilities Total Annual Expenses Total Annual Net Revenue
$
Capitalization Rate Expense Ratio Purchase Price / Per Unit
$ $
500 5,500 165 18,000 14,221 10,000 20,500 68,886 115,667
$
5.14% 37.32% 2,250,000 / 132,353
BILL GOOLD or JAMES BLAIR 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 – December 2013 2805 Glenayr Drive, Nanaimo
Address
Unit Type
2805 - 1 2 3 4 5 6 2817 - 1 2 3 4 5 6 2829 - 1 2
Two Bedroom One Bedroom One Bedroom Two Bedroom One Bedroom Two Bedroom One Bedroom One Bedroom One Bedroom One Bedroom One Bedroom One Bedroom Two Bedroom One Bedroom One Bedroom
*3 4 *5 & 6
(Office/ Storage)
Two Bedroom Three Bedroom (Owner occupied)
TOTAL
Monthly Rent $
Approximate Unit Size- s.f.
900 800 850 950 900 1,025 800 850 850 850 900 900 800 900
862 624 624 862 624 862 624 624 624 624 624 624 862 624
850
624
975
862
1,500
1,650
$15,600
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. * 2829 # 3 presently being used as office/storage. Market rent is $850. * 2829 # 5 & 6 presently occupied by owner. Market rent is $1,500.
BILL GOOLD or JAMES BLAIR 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 2805 Glenayr Drive, Nanaimo
$2,250,000
BILL GOOLD or JAMES BLAIR 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!
