building summary
1338
West 10th Street BUILDING SUMMARY Vancouver, BC
LISTED PRICE
1285 Martin Street, White Rock
$3,500,000
SUITE MIX: 10 units 1-Bachelor (u/a) 7-1 Bedrooms 2-2 Bedrooms Meticulously landscaped with great curb appeal New windows throughout and fresh exterior paint Beautifully renovated suites with dishwasher
Outstanding location in the heart of the strong South Granville rental market Building has both hot and cold piping redone
Bill Goold | James Blair | Patrick McEvay | David Venance
CONTACT JAMES BLAIR FOR DETAILED INFORMATION 604. 263. 2823 | [email protected]
Each office is independently owned and operated.
410 – North Tower , 650 West 41st Avenue Vancouver, BC V5Z 2M9
1338 West 10th Avenue, Vancouver
BUILDING SUMMARY
MUNICIPAL ADDRESS:
1338 West 10th Avenue, Vancouver, V6H 1J6
PID
003-923-487
LEGAL DESCRIPTION
Lot 7 Block 372 District Lot 526 Plan 991
ZONING
RM-3 MULTI FAMILY DEWLING
NEIGHBOURHOOD
Fairview
YEAR BUILT
1956
SITE SIZE
Approximate 50’ x 125’ (6,250 sq. ft.)
10 RESIDENTIAL UNITS
1 7 2 10
ELEVATORS
No
BALCONIES
No
PARKING
Yes
ASSESMENT 2013
Land Improvement Total
Bachelor (u/a) 1 Bedroom 2 Bedroom Total
$1,762,000 $ 642,000 $2,404,000
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.
UNIT DESCRIPTION
This property offers one bachelor, seven 1-bedrooms, and two 2-bedroom suites; all of which have been renovated. The average size of the 1 bedroom is 725 square feet and the average size of a two bedroom is 825 square feet. All units have a breaker panel. The units feature kitchens which have ample updated cabinet space, a double sink, arborite counter tops, modern lighting and have tile floors. Appliances include a Kenmore dishwasher, a full size Frigidaire stove with hood fan cover, and a full size Maytag fridge. The living rooms have original hardwood floors, a fresh modern paint scheme, and new lighting. The suite’s bathrooms are tiled, with new vanities, a Kohler toilet, and an updated tub shower with tile surrounds. The bathroom is well lit with a private window and dimmer lighting. The bedrooms are a good size with bright natural lighting. Door handles throughout have been replaced and each unit has a smoke and heat detector. The units also have fresh paint throughout and horizontal blinds as window coverings.
1338 West 10th Avenue, Vancouver
1338 West 10th Avenue, Vancouver
RENT ROLL June 2014
Unit Type
Number
Monthly Rent $
Annualized Rent $
1 Bedroom
101
1,328.60
15,943.20
2 Bedroom
102
1,450.00
17,400.00
1 Bedroom
103
1,250.00
15,000.00
1 Bedroom
104
1,250.00
15,000.00
1 Bedroom
105
1,327.74
15,932.88
2 Bedroom
106
1,481.90
17,782.80
1 Bedroom
107
1,188.13
14,257.56
1 Bedroom
108
1,326.40
15,916.80
1 Bedroom
109
1,290.00
15,480.00
Bachelor
110
875.00
10,500.00
Total
10 units
$
12,767.77
$
153,216.00
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.
1338 West 10th Avenue, Vancouver
FINANCIAL SUMMARY Based on June 2014 Financials
ANNUAL
PERCENTAGE OF EFFECTIVE GROSS INCOME
ANNUAL PER UNIT
REVENUE Rental Income Laundry [1] Storage [2] Gross Income Less: Vacancy (1.1%) EFFECTIVE GROSS INCOME
153,216 1,800 9,600 164,616 1,810 $162,806
EXPENSES Insurance Property Taxes Repairs & Maintenance [3] Utilities Fire TOTAL EXPENSES
5,400 8,100 7,500 11,200 600 $32,800
3.32% 4.98% 4.61% 6.88% 0.37% 20.15%
540 810 750 1,120 60 $3,280
$130,006
79.85%
$13,001
TOTAL NET INCOME
CAP RATE
15,322 180 960 16,462 181 $16,281
3.7%
[1] Estimated at $15/unit/month (contract with Phelps Laundry) [2] Storage income estimate. Seller will convert the 4 covered parking stalls to individual secure storage lockers. Estimated rent is $200/locker/month [3] Normalized at $750/unit
3.7% cap 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.
1338 West 10th Avenue, Vancouver
LOCATION
Subject Property
Bus Route | Destination 099 B-LINE | Commercial-UBC 009 | Broadway-Alma
010 | Granville-Downtown
SkyTrain Route | Destination CANADA LINE | Waterfront/YVR
This property is located 2 blocks from both main corridors of West Broadway and Granville Street. This amazing location in Fairview is minutes away from transportation— 13 minutes from Downtown Vancouver and 20 minutes from UBC. It is the ideal location for commuting urban professionals and students. Because of the high demand for this type of property in Vancouver, Fairview’s housing prices and rents have been steadily increasing in the last few years. This neighbourhood is home to Granville Island, which attracts 10 million visitors a year with its market, shops, restaurants, and gorgeous views. South Granville also features “Gallery Row”, a collection of famous art galleries, antique and modern furniture stores, and home décor shops. Tenants will also be able to enjoy False Creek, the South Granville Shopping District, and some of Vancouver’s most acclaimed restaurants. This property allows tenants to experience the best that Vancouver has to offer while being located on a quiet, friendly neighbourhood street.
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.
NEIGHBOURHOOD
1338 West 10th Avenue, Vancouver
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. Scores are marked out of 100 points (All information courtesy of www.walkscore.com)
Errands | Entertainment | Shopping Granville Island Market Pottery Barn Festival Cinemas Vancouver Fifth Mische Boutique Pharmasave Chali Rosso Art Gallery Restaurants | Coffee Shops Vij’s Restaurant Bella Pizza West Restaurant and Bar BLENZ Coffee Heirloom Vegetarian Groceries Meinhardt Fine Foods Canada Produce Market NU Greek Sun on Market Parks Granville Loop Park Fairview Seawall Choklit Park
Bill Goold | James Blair | Patrick McEvay | David Venance
604-263-2823 | [email protected] 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. July 31, 2014
Date prepared: June 27, 2014
West 10th Street BUILDING SUMMARY Vancouver, BC
LISTED PRICE
1285 Martin Street, White Rock
$3,500,000
SUITE MIX: 10 units 1-Bachelor (u/a) 7-1 Bedrooms 2-2 Bedrooms Meticulously landscaped with great curb appeal New windows throughout and fresh exterior paint Beautifully renovated suites with dishwasher
Outstanding location in the heart of the strong South Granville rental market Building has both hot and cold piping redone
Bill Goold | James Blair | Patrick McEvay | David Venance
CONTACT JAMES BLAIR FOR DETAILED INFORMATION 604. 263. 2823 | [email protected]
Each office is independently owned and operated.
410 – North Tower , 650 West 41st Avenue Vancouver, BC V5Z 2M9
1338 West 10th Avenue, Vancouver
BUILDING SUMMARY
MUNICIPAL ADDRESS:
1338 West 10th Avenue, Vancouver, V6H 1J6
PID
003-923-487
LEGAL DESCRIPTION
Lot 7 Block 372 District Lot 526 Plan 991
ZONING
RM-3 MULTI FAMILY DEWLING
NEIGHBOURHOOD
Fairview
YEAR BUILT
1956
SITE SIZE
Approximate 50’ x 125’ (6,250 sq. ft.)
10 RESIDENTIAL UNITS
1 7 2 10
ELEVATORS
No
BALCONIES
No
PARKING
Yes
ASSESMENT 2013
Land Improvement Total
Bachelor (u/a) 1 Bedroom 2 Bedroom Total
$1,762,000 $ 642,000 $2,404,000
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.
UNIT DESCRIPTION
This property offers one bachelor, seven 1-bedrooms, and two 2-bedroom suites; all of which have been renovated. The average size of the 1 bedroom is 725 square feet and the average size of a two bedroom is 825 square feet. All units have a breaker panel. The units feature kitchens which have ample updated cabinet space, a double sink, arborite counter tops, modern lighting and have tile floors. Appliances include a Kenmore dishwasher, a full size Frigidaire stove with hood fan cover, and a full size Maytag fridge. The living rooms have original hardwood floors, a fresh modern paint scheme, and new lighting. The suite’s bathrooms are tiled, with new vanities, a Kohler toilet, and an updated tub shower with tile surrounds. The bathroom is well lit with a private window and dimmer lighting. The bedrooms are a good size with bright natural lighting. Door handles throughout have been replaced and each unit has a smoke and heat detector. The units also have fresh paint throughout and horizontal blinds as window coverings.
1338 West 10th Avenue, Vancouver
1338 West 10th Avenue, Vancouver
RENT ROLL June 2014
Unit Type
Number
Monthly Rent $
Annualized Rent $
1 Bedroom
101
1,328.60
15,943.20
2 Bedroom
102
1,450.00
17,400.00
1 Bedroom
103
1,250.00
15,000.00
1 Bedroom
104
1,250.00
15,000.00
1 Bedroom
105
1,327.74
15,932.88
2 Bedroom
106
1,481.90
17,782.80
1 Bedroom
107
1,188.13
14,257.56
1 Bedroom
108
1,326.40
15,916.80
1 Bedroom
109
1,290.00
15,480.00
Bachelor
110
875.00
10,500.00
Total
10 units
$
12,767.77
$
153,216.00
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.
1338 West 10th Avenue, Vancouver
FINANCIAL SUMMARY Based on June 2014 Financials
ANNUAL
PERCENTAGE OF EFFECTIVE GROSS INCOME
ANNUAL PER UNIT
REVENUE Rental Income Laundry [1] Storage [2] Gross Income Less: Vacancy (1.1%) EFFECTIVE GROSS INCOME
153,216 1,800 9,600 164,616 1,810 $162,806
EXPENSES Insurance Property Taxes Repairs & Maintenance [3] Utilities Fire TOTAL EXPENSES
5,400 8,100 7,500 11,200 600 $32,800
3.32% 4.98% 4.61% 6.88% 0.37% 20.15%
540 810 750 1,120 60 $3,280
$130,006
79.85%
$13,001
TOTAL NET INCOME
CAP RATE
15,322 180 960 16,462 181 $16,281
3.7%
[1] Estimated at $15/unit/month (contract with Phelps Laundry) [2] Storage income estimate. Seller will convert the 4 covered parking stalls to individual secure storage lockers. Estimated rent is $200/locker/month [3] Normalized at $750/unit
3.7% cap 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.
1338 West 10th Avenue, Vancouver
LOCATION
Subject Property
Bus Route | Destination 099 B-LINE | Commercial-UBC 009 | Broadway-Alma
010 | Granville-Downtown
SkyTrain Route | Destination CANADA LINE | Waterfront/YVR
This property is located 2 blocks from both main corridors of West Broadway and Granville Street. This amazing location in Fairview is minutes away from transportation— 13 minutes from Downtown Vancouver and 20 minutes from UBC. It is the ideal location for commuting urban professionals and students. Because of the high demand for this type of property in Vancouver, Fairview’s housing prices and rents have been steadily increasing in the last few years. This neighbourhood is home to Granville Island, which attracts 10 million visitors a year with its market, shops, restaurants, and gorgeous views. South Granville also features “Gallery Row”, a collection of famous art galleries, antique and modern furniture stores, and home décor shops. Tenants will also be able to enjoy False Creek, the South Granville Shopping District, and some of Vancouver’s most acclaimed restaurants. This property allows tenants to experience the best that Vancouver has to offer while being located on a quiet, friendly neighbourhood street.
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.
NEIGHBOURHOOD
1338 West 10th Avenue, Vancouver
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. Scores are marked out of 100 points (All information courtesy of www.walkscore.com)
Errands | Entertainment | Shopping Granville Island Market Pottery Barn Festival Cinemas Vancouver Fifth Mische Boutique Pharmasave Chali Rosso Art Gallery Restaurants | Coffee Shops Vij’s Restaurant Bella Pizza West Restaurant and Bar BLENZ Coffee Heirloom Vegetarian Groceries Meinhardt Fine Foods Canada Produce Market NU Greek Sun on Market Parks Granville Loop Park Fairview Seawall Choklit Park
Bill Goold | James Blair | Patrick McEvay | David Venance
604-263-2823 | [email protected] 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. July 31, 2014
Date prepared: June 27, 2014
