MARPOLE
BUILDING SUMMARY TWO APARTMENT BLOCKS SIDE BY SIDE FOR SALE
Martin Street, White Rock West 71st Avenue 1387 1285 1397 Vancouver, BC
MARPOLE CORNER LOT 100’ x 130’ T O TA L 1 9 U N I T S
PRICE REDUCED ASKING PRICE FOR BOTH PROPERTIES
$4,700,000
Corner lot property in Vancouver Marpole neighbourhood Consists of two existing buildings – each on its own 50’x 120’ lot
$247,368 per unit
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
BUILDING SUMMARY
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
1387 West 71st Avenue
1397 West 71st Avenue
LEGAL DESCRIPTION 014-344-114 PL VAP1749 LT 5 BLK 15 DL 318 LD 36 Group 1
LEGAL DESCRIPTION 014-344-122 PL VAP1749 LT 6 BLK 15 DL 318 LD 36 Group 1
SUITE MIX 4 1 Bedroom (650 sq ft Approx Avg. Size) 4 2 Bedroom (750 sq ft Approx Avg. Size) 8 Total
SUITE MIX 1 Bachelor (u/a) 5 1 Bedroom 5 2 Bedroom 11 Total
ZONING RM-3A MULTIPLE FAMILY DWELLING LOT SIZE 50’ X 130’ CONSTRUCTED 1954
PROPERTY TAXES 2013 $ 5,510.00 ASSESSMENT 2013 Land $ 1,404,000 Improvements $ 243,000 Total $ 1,647,000
ZONING RM-3A MULTIPLE FAMILY DWELLING LOT SIZE 50’ X 130’ CONSTRUCTED 1955 PROPERTY TAXES 2013 $7,121.00 ASSESSMENT 2013 Land $ 1,404,000 Improvements $ 655,000 Total $ 2,059,000
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. [July 31, 2014]
BUILDING DESCRIPTION
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
PROPERTY HIGHLIGHTS & IMPROVEMENTS Corner lot property in Vancouver Marpole neighbourhood Consists of two existing buildings – each on its own 50’x 120’ lot Owner has shown pride of ownership for 30 years Proximity to public transit – Bus and Sky Train Roofs are tar and gravel with new layer on both roofs with 10 years anticipated life remaining (15 yr warranty) 10 year-old double Veissman boiler system in each building Central heat controls All units with heat and smoke detectors All units with circuit breaker panels Large storage locker rooms in both buildings with storage for each tenant Intercom controlled security in both buildings Underground timed irrigation system across both properties 10 surface parking stalls (free parking) All one and two bedroom units are of generous sizes (approx 650 – 750 sq ft) 1387 West 71st Laundry room is approx 300 sq ft with 1 coin- operated Huebsch washer and 1 Maytag dryer (both 2 years old)-room has 2 piece bathroom attached Large undeveloped storage space approx. 1,590 sq ft. 1397 West 71st Laundry room is approx. 300 sq ft with coin- operated Huebsch 1 washer and Maytag 1 dryer (2 years old) Storage locker room approx 300 sq ft.
UNIT DESCRIPTION Kitchen: Original cabinetry , full-size refrigerators Living Room: hardwood floors, large windows Bathroom: tile enclosed tub, lino flooring, updated vanities Bedrooms: hardwood floors, good closet space
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]
RENT ROLL
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
1387 West 71st Unit #
Unit Type
201 202 203 204 305 306 307 308
2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom Total
Monthly Rent $ 995 995 795 795 985 970 795 795 $7,125
1397 West 71st Unit # 109 110 112 201 202 203 204 305 306 307 308
Unit Type
Monthly Rent $ 2 Bedroom 960 1 Bedroom 780 * Bachelor (u/a) 685 2 Bedroom 985 2 Bedroom 985 1 Bedroom 795 1 Bedroom 795 2 Bedroom 985 2 Bedroom 985 1 Bedroom 795 1 Bedroom 795 Total $9,545
* unauthorized unit no stove
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]
FINANCIAL SUMMARY
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
January – December 2013 Annual Revenue Rental Income 12 months X $16,670
$
Laundry (Estimated at $15/unit) Total Gross Revenue Less Vacancy Rate (CMHC Fall 2013)
200,040 3,420
2.4%
Total Effective Income
$
203,460
$
4,883
$
198,577
Annual Expenses Insurance
9,571
Licenses, Dues & Memberships
1,160
Property Tax 2013
12,631
Repairs & Maintenance (estimated $857/unit)
16,290
Gas + Hydro
11,763
Water/sewer
5,882
Total Annual Expenses
57,297
Total Annual Net Revenue $
141,280
Capitalization Rate
3.01%
Expense Ratio
28.9%
Price Per Unit Purchase Price
$
247,368 $4,700,000
Notes: 2013 actual gross inlcuding laundry was $191,550 Revenue and expenses have been combined for both buildings
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]
LOCATION
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
This investment property is located in the Marpole neighbourhood on the southern edge of the city immediately northeast of VYR (Vancouver International Airport). It is a busy gateway to Vancouver City Centre from the south neighbouring municipalities and from the airport. Due to the recent construction of the sky train, the demand for housing is soaring. Currently, it has a mix of residential housing including low-rise apartments. Shopping district along Granville Street and the new Safeway was re-opened in December Theisbuilding and neighbourhood attributes will ensure 2013. The demand for newconsistent development is rising and the local government is working on a community plan to market value appreciation, with continuing ensure future growth of thelow area meets the ofrental the community. vacancies andneeds steady income growth.
Subject Property
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] May 26, 2014
Martin Street, White Rock West 71st Avenue 1387 1285 1397 Vancouver, BC
MARPOLE CORNER LOT 100’ x 130’ T O TA L 1 9 U N I T S
PRICE REDUCED ASKING PRICE FOR BOTH PROPERTIES
$4,700,000
Corner lot property in Vancouver Marpole neighbourhood Consists of two existing buildings – each on its own 50’x 120’ lot
$247,368 per unit
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
BUILDING SUMMARY
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
1387 West 71st Avenue
1397 West 71st Avenue
LEGAL DESCRIPTION 014-344-114 PL VAP1749 LT 5 BLK 15 DL 318 LD 36 Group 1
LEGAL DESCRIPTION 014-344-122 PL VAP1749 LT 6 BLK 15 DL 318 LD 36 Group 1
SUITE MIX 4 1 Bedroom (650 sq ft Approx Avg. Size) 4 2 Bedroom (750 sq ft Approx Avg. Size) 8 Total
SUITE MIX 1 Bachelor (u/a) 5 1 Bedroom 5 2 Bedroom 11 Total
ZONING RM-3A MULTIPLE FAMILY DWELLING LOT SIZE 50’ X 130’ CONSTRUCTED 1954
PROPERTY TAXES 2013 $ 5,510.00 ASSESSMENT 2013 Land $ 1,404,000 Improvements $ 243,000 Total $ 1,647,000
ZONING RM-3A MULTIPLE FAMILY DWELLING LOT SIZE 50’ X 130’ CONSTRUCTED 1955 PROPERTY TAXES 2013 $7,121.00 ASSESSMENT 2013 Land $ 1,404,000 Improvements $ 655,000 Total $ 2,059,000
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. [July 31, 2014]
BUILDING DESCRIPTION
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
PROPERTY HIGHLIGHTS & IMPROVEMENTS Corner lot property in Vancouver Marpole neighbourhood Consists of two existing buildings – each on its own 50’x 120’ lot Owner has shown pride of ownership for 30 years Proximity to public transit – Bus and Sky Train Roofs are tar and gravel with new layer on both roofs with 10 years anticipated life remaining (15 yr warranty) 10 year-old double Veissman boiler system in each building Central heat controls All units with heat and smoke detectors All units with circuit breaker panels Large storage locker rooms in both buildings with storage for each tenant Intercom controlled security in both buildings Underground timed irrigation system across both properties 10 surface parking stalls (free parking) All one and two bedroom units are of generous sizes (approx 650 – 750 sq ft) 1387 West 71st Laundry room is approx 300 sq ft with 1 coin- operated Huebsch washer and 1 Maytag dryer (both 2 years old)-room has 2 piece bathroom attached Large undeveloped storage space approx. 1,590 sq ft. 1397 West 71st Laundry room is approx. 300 sq ft with coin- operated Huebsch 1 washer and Maytag 1 dryer (2 years old) Storage locker room approx 300 sq ft.
UNIT DESCRIPTION Kitchen: Original cabinetry , full-size refrigerators Living Room: hardwood floors, large windows Bathroom: tile enclosed tub, lino flooring, updated vanities Bedrooms: hardwood floors, good closet space
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]
RENT ROLL
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
1387 West 71st Unit #
Unit Type
201 202 203 204 305 306 307 308
2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom Total
Monthly Rent $ 995 995 795 795 985 970 795 795 $7,125
1397 West 71st Unit # 109 110 112 201 202 203 204 305 306 307 308
Unit Type
Monthly Rent $ 2 Bedroom 960 1 Bedroom 780 * Bachelor (u/a) 685 2 Bedroom 985 2 Bedroom 985 1 Bedroom 795 1 Bedroom 795 2 Bedroom 985 2 Bedroom 985 1 Bedroom 795 1 Bedroom 795 Total $9,545
* unauthorized unit no stove
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]
FINANCIAL SUMMARY
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
January – December 2013 Annual Revenue Rental Income 12 months X $16,670
$
Laundry (Estimated at $15/unit) Total Gross Revenue Less Vacancy Rate (CMHC Fall 2013)
200,040 3,420
2.4%
Total Effective Income
$
203,460
$
4,883
$
198,577
Annual Expenses Insurance
9,571
Licenses, Dues & Memberships
1,160
Property Tax 2013
12,631
Repairs & Maintenance (estimated $857/unit)
16,290
Gas + Hydro
11,763
Water/sewer
5,882
Total Annual Expenses
57,297
Total Annual Net Revenue $
141,280
Capitalization Rate
3.01%
Expense Ratio
28.9%
Price Per Unit Purchase Price
$
247,368 $4,700,000
Notes: 2013 actual gross inlcuding laundry was $191,550 Revenue and expenses have been combined for both buildings
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]
LOCATION
1387 & 1397 WEST 71ST AVENUE, VANCOUVER
This investment property is located in the Marpole neighbourhood on the southern edge of the city immediately northeast of VYR (Vancouver International Airport). It is a busy gateway to Vancouver City Centre from the south neighbouring municipalities and from the airport. Due to the recent construction of the sky train, the demand for housing is soaring. Currently, it has a mix of residential housing including low-rise apartments. Shopping district along Granville Street and the new Safeway was re-opened in December Theisbuilding and neighbourhood attributes will ensure 2013. The demand for newconsistent development is rising and the local government is working on a community plan to market value appreciation, with continuing ensure future growth of thelow area meets the ofrental the community. vacancies andneeds steady income growth.
Subject Property
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] May 26, 2014
