11682 224 Street
Mariner’s Watch 11682 224 Street
FOR SALE
MAPLE RIDGE, BC OPPORTUNITY HIGHLIGHTS Opportunity to invest in a rapidly growing community Located within walking distance to shopping and the West Coast Express (soon to be connected to the SkyTrain Evergreen Line) New capital expenditures include extensive suite renovations, new roof, and complete electrical overhaul
$2,370,000
Attractive cap rate with ability to increase revenue with below market rents Easy to manage property with tenants paying all their own utilities
21-Unit Apartment Building Offering Proximity to Amenities and Rapid Transit
Patrick McEvay
Selling Apartment Buildings as if they were our own!
(604) 267-2455 [email protected]
www.billgooldrealty.com
Personal Real Estate Corporation
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
Bill Goold Realty
11682 224 Street
RENT ROLL
PROPERTY DETAILS CIVIC ADDRESS 11682 225th Street Maple Ridge, BC
As of October 2015 UNIT NUMBER
TYPE
MONTHLY RENT
CMHC RENT
101
1 Bedroom
$650
$708
102
1 Bedroom
$640
$708
103
1 Bedroom
$640
$708
104
1 Bedroom
$635
$708
105
2 Bedroom
$750
$886
201
2 Bedroom
$760
$886
202
1 Bedroom
$635
$708
203
1 Bedroom
$610
$708
204
1 Bedroom
$650
$708
205
1 Bedroom
$640
$708
206
1 Bedroom
$635
$708
207
1 Bedroom
$641
$708
208
2 Bedroom
$770
$886
301
2 Bedroom
$743
$886
302
1 Bedroom
$635
$708
303
1 Bedroom
$635
$708
304
1 Bedroom
$650
$708
305
1 Bedroom
$640
$708
306
1 Bedroom
$640
$708
307
1 Bedroom
$640
$708
308
2 Bedroom
$850
$886
TOTAL
21 UNITS
$14,089
$15,758
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
PROPERTY IDENTIFIERS 000-991-210 LEGAL DESCRIPTION Lot A DL 398 LD 36 Plan NWP 6689 YEAR BUILT Constructed in 1967 LOT SIZE 60’ x 147’ (8,820 sf) ZONING RM-2 PROPERTY TAXES (2015) $19,451.69 ASSESSMENT (2015) Land $ 343,000 Improvement $1,447,000 Total $1,790,000
21 RESIDENTIAL UNITS 16 – One Bedroom 5 – Two Bedroom ROOF New 2 ply torch on membrane EXTERIOR Vinyl siding with double glazed windows ELECTRICAL Copper wiring with individual breakers in each unit and GFI plugs in kitchens HEAT & HOT WATER Electric baseboard heat with individual hot water tanks CHATTELS 21 Fridges & 21 Stoves 2 Washers & 2 Dryers
*All measurements are approximate and are subject to verification by the purchaser
11682 224 Street
FINANCIAL EVALUATION
REVENUE Rental Income [1] Laundry Gross Income Less: Vacancy 2.80% [2] EFFECTIVE GROSS INCOME EXPENSES (2014) Property Taxes Insurance Utilities: Electricity Utilities: Garbage Utilities: Water/Sewer Licence Fire Monitor Caretaker Repair & Maintenance [3] TOTAL EXPENSES
TOTAL NET INCOME Asking Price Cap Rate
YEARLY
ACTUAL YEARLY/UNIT
$169,066 $3,420 $172,486 $4,830 $167,657
$8,051 $163 $8,214 $230 $7,984
$13,800 $6,960 $1,344 $3,300 $2,520 $204 $240 $4,800 $15,750
$657 $331 $64 $157 $120 $10 $11 $229 $750 $2,329
$48,918
% OF EGI
8.23% 4.15% 0.80% 1.97% 1.50% 0.12% 0.14% 2.86% 9.39% 29.18%
$118,739 $2,370,000 5.01%
$112,857
[1] October 2015 rent roll x 12 [2] CMHC reported average vacancy rate for October 2014 [3] Normalized to $750/unit
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
11682 224 Street
LOCATION PROFILE Maple Ridge is a city located in the northeastern section of Metro Vancouver, approximately 45 kilometres east of Vancouver. Stats Canada estimates the population of Maple Ridge will grow from its current size of approximately 101,000 to over 120,000 by 2025.
HANEY PLACE MALL
LOUGHEED HIGHWAY
The Property is located on 224 Street, south of Lougheed Highway and north of the Haney Bypass, and only a 7-minute walk to Port Haney station, where the West Coast Express train takes commuters to Downtown Vancouver in approximately 1 hour, Monday through Friday. This makes Mariner’s Watch a very convenient location for residents who need to transit throughout Metro Vancouver for work.
11682 224 Street
The Property also has an impressive walk score of 90, which is classified as a walker’s paradise, with daily errands achievable without a car. Shops, services, and Haney Place Mall are all located within 3-9 minutes walking time. Furthermore, Brickwood Park is a short 8-minute walk, and provides open green space, tennis courts, basketball courts, and play equipment.
90 46 41
BRICKWOOD PARK
Walk Score Methodology: Walk Score measures the walkability of any address. For each address, Walk Score analyzes hundreds of walking routes to nearby amenities. Points are awarded based on the distance to amenities in each category. Walk scores are based out of 100. (Information courtesy of www.walkscore.com)
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
11682 224 Street
FOR SALE
MAPLE RIDGE, BC OPPORTUNITY HIGHLIGHTS Opportunity to invest in a rapidly growing community Located within walking distance to shopping and the West Coast Express (soon to be connected to the SkyTrain Evergreen Line) New capital expenditures include extensive suite renovations, new roof, and complete electrical overhaul
$2,370,000
Attractive cap rate with ability to increase revenue with below market rents Easy to manage property with tenants paying all their own utilities
21-Unit Apartment Building Offering Proximity to Amenities and Rapid Transit
Patrick McEvay
Selling Apartment Buildings as if they were our own!
(604) 267-2455 [email protected]
www.billgooldrealty.com
Personal Real Estate Corporation
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
Bill Goold Realty
11682 224 Street
RENT ROLL
PROPERTY DETAILS CIVIC ADDRESS 11682 225th Street Maple Ridge, BC
As of October 2015 UNIT NUMBER
TYPE
MONTHLY RENT
CMHC RENT
101
1 Bedroom
$650
$708
102
1 Bedroom
$640
$708
103
1 Bedroom
$640
$708
104
1 Bedroom
$635
$708
105
2 Bedroom
$750
$886
201
2 Bedroom
$760
$886
202
1 Bedroom
$635
$708
203
1 Bedroom
$610
$708
204
1 Bedroom
$650
$708
205
1 Bedroom
$640
$708
206
1 Bedroom
$635
$708
207
1 Bedroom
$641
$708
208
2 Bedroom
$770
$886
301
2 Bedroom
$743
$886
302
1 Bedroom
$635
$708
303
1 Bedroom
$635
$708
304
1 Bedroom
$650
$708
305
1 Bedroom
$640
$708
306
1 Bedroom
$640
$708
307
1 Bedroom
$640
$708
308
2 Bedroom
$850
$886
TOTAL
21 UNITS
$14,089
$15,758
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
PROPERTY IDENTIFIERS 000-991-210 LEGAL DESCRIPTION Lot A DL 398 LD 36 Plan NWP 6689 YEAR BUILT Constructed in 1967 LOT SIZE 60’ x 147’ (8,820 sf) ZONING RM-2 PROPERTY TAXES (2015) $19,451.69 ASSESSMENT (2015) Land $ 343,000 Improvement $1,447,000 Total $1,790,000
21 RESIDENTIAL UNITS 16 – One Bedroom 5 – Two Bedroom ROOF New 2 ply torch on membrane EXTERIOR Vinyl siding with double glazed windows ELECTRICAL Copper wiring with individual breakers in each unit and GFI plugs in kitchens HEAT & HOT WATER Electric baseboard heat with individual hot water tanks CHATTELS 21 Fridges & 21 Stoves 2 Washers & 2 Dryers
*All measurements are approximate and are subject to verification by the purchaser
11682 224 Street
FINANCIAL EVALUATION
REVENUE Rental Income [1] Laundry Gross Income Less: Vacancy 2.80% [2] EFFECTIVE GROSS INCOME EXPENSES (2014) Property Taxes Insurance Utilities: Electricity Utilities: Garbage Utilities: Water/Sewer Licence Fire Monitor Caretaker Repair & Maintenance [3] TOTAL EXPENSES
TOTAL NET INCOME Asking Price Cap Rate
YEARLY
ACTUAL YEARLY/UNIT
$169,066 $3,420 $172,486 $4,830 $167,657
$8,051 $163 $8,214 $230 $7,984
$13,800 $6,960 $1,344 $3,300 $2,520 $204 $240 $4,800 $15,750
$657 $331 $64 $157 $120 $10 $11 $229 $750 $2,329
$48,918
% OF EGI
8.23% 4.15% 0.80% 1.97% 1.50% 0.12% 0.14% 2.86% 9.39% 29.18%
$118,739 $2,370,000 5.01%
$112,857
[1] October 2015 rent roll x 12 [2] CMHC reported average vacancy rate for October 2014 [3] Normalized to $750/unit
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
11682 224 Street
LOCATION PROFILE Maple Ridge is a city located in the northeastern section of Metro Vancouver, approximately 45 kilometres east of Vancouver. Stats Canada estimates the population of Maple Ridge will grow from its current size of approximately 101,000 to over 120,000 by 2025.
HANEY PLACE MALL
LOUGHEED HIGHWAY
The Property is located on 224 Street, south of Lougheed Highway and north of the Haney Bypass, and only a 7-minute walk to Port Haney station, where the West Coast Express train takes commuters to Downtown Vancouver in approximately 1 hour, Monday through Friday. This makes Mariner’s Watch a very convenient location for residents who need to transit throughout Metro Vancouver for work.
11682 224 Street
The Property also has an impressive walk score of 90, which is classified as a walker’s paradise, with daily errands achievable without a car. Shops, services, and Haney Place Mall are all located within 3-9 minutes walking time. Furthermore, Brickwood Park is a short 8-minute walk, and provides open green space, tennis courts, basketball courts, and play equipment.
90 46 41
BRICKWOOD PARK
Walk Score Methodology: Walk Score measures the walkability of any address. For each address, Walk Score analyzes hundreds of walking routes to nearby amenities. Points are awarded based on the distance to amenities in each category. Walk scores are based out of 100. (Information courtesy of www.walkscore.com)
Patrick McEvay | Bill Goold | Ray Townsend | James Blair | David Venance | Margaret Zheng
11682 224 Street
