penticton
PENTICTON
2902 South Main Street, Penticton $7,500,000 77 Unit Apartment Building Suite Mix 29 – 1 Bedroom 48 – 2 Bedroom
BILL GOOLD 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 2902 South Main Street, Penticton
“Arran House” is an exceptional building, located in the beautiful Okanagan, across the street from the senior’s centre, a short walking distance to Skaha Lake and Penticton’s major shopping centre, and just a short drive to the airport. This four storey apartment building has great street appeal and extensive outdoor Xeriscape plantings which promotes low water usage. The exterior is brick with vinyl siding and a newer torch on roof. There are two hydraulic elevators, and a 100+ stall parking lot which has recently been resealed, the parking lines repainted and new entry/exit signs installed. Tenants have access to four laundry rooms, each having 2 washers and 2 dryers, all coin operated and owned by the building. Extensive renovations have recently been done at a cost of over $95,000. These include new hallway carpets on two floors, new LED lights on all four floors, and a new high efficiency water heater and storage tank. Electric heaters in the halls are on a central control. The fire panel has been replaced, a new hook up for the Fire Standpipe installed, and all fire doors are now on a magnet system to remain open unless a fire occurs. A six camera surveillance system was designed that allows tenants to view from their tv’s any activity around the building and who is buzzing them from the front door. All units have also had the windows refitted for original Mohair insulation, exhaust fan air dampers retrofitted, and all electrical plugs/switches changed to Decora style. Shaw has a new cable system to the building via an underground connection. One third of the cable wiring to the units has been upgraded and Shaw will continue the upgrades at their cost. With any turnover in the units, the owner has repainted with a dual colour scheme, installed new drapes and replaced the carpets as needed. The suites are air conditioned, have smoke detectors, in suite storage, and large balconies. The current tenancy base is mostly seniors, many on multiple year contracts, and they pay their own cable, telephone and electricity.
BILL GOOLD 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 2902 South Main Street, Penticton
Legal Description:
PID: 005-151-945 Lot 1 Plan KAP 26261 District Lot 251 Similkameen Division Yale District
Property Taxes:
2012
$ 53,160
Assessments:
2013
$
1,553,000 Land 5,106,000 Improvements
$
6,659,000
Zoning:
Multifamily Apartment Block
Constructed:
1978
Lot Size:
1.949 acres
Suite Mix:
29 - 1 Bedroom 48 - 2 Bedroom 77
Units Total
Chattels:
77 fridges, 77 stoves, 8 washers, 8 dryers, 2 dishwashers
Financial Encumbrances:
First Mortgage Peoples Trust due November 2014 Vendor will take back second mortgage
BILL GOOLD 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 2902 South Main Street, Penticton
Annual Revenue
Current
Rental Income (Rents x 12) Laundry & Parking (Estimated) Less Vacancy Rate (4%)
Projected
$
587,314 $ 8,500 (23,832)
652,500 8,800 (26,452)
Total Annual Gross Revenue $
571,982 $
634,848
Annual Expenses
Actual 2012
Projected
Advertising Bank Charges & Interest Elevator Maintenance Telephone Licenses & Dues Insurance Property Tax Repairs & Maintenance Wages and Employee Benefits Utilities
$
190 $ 221 5,414 618 543 21,262 53,160 46,200 58,347 35,287
190 221 5,414 618 543 21,262 53,160 46,200 58,347 35,287
Total Annual Expenses Total Annual Net Revenue
$ $
221,242 $ 350,740 $
221,242 413,606
Capitalization Rate
4.67 %
5.51 %
38.68 %
34.85 %
7,500,000 $
97,402
Expense Ratio
Purchase Price $ Actual 2012 rental income is $488,345
BILL GOOLD 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 – MAY 2013 2902 South Main Street, Penticton Unit Monthly Market Unit Type Number Rent Rent 101 102 103 104 105 106 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223
2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom
587.80 587.80 700 588.90 700 685 587.80 700 466.60 714.50 588.90 613.80 685 700 700 700 725 725 613.80 600 522.90 625 700 538 600 606.20 625 600 587.80
750 750 750 750 750 750 750 750 625 750 750 750 750 750 750 750 750 750 750 625 625 625 750 625 625 625 625 625 750
BILL GOOLD 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!
Unit Number
Unit Type
Monthly Rent
Market Rent
301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 401 402 403 404 405 406 407
2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom
639.80 639.80 581.20 685.80 700 639.80 639.83 725 700 639.80 685 639.80 700 549.90 538 600 639.80 600 538 549.90 625 522.10 639.80 700 685 656.05 538 688.38 634.14 714.10 658.20
750 750 625 750 750 750 750 750 750 750 750 750 750 625 625 625 750 625 625 625 625 625 750 750 750 750 625 750 750 750 750
BILL GOOLD 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!
Unit Number 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424
Unit Type
2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom TOTAL
Monthly Rent
Market Rent
685 685 714.50 725 658.20 725 606.20 600 538 659.10 538 616.50 538 600 522.90 714.50 750 $48,942.90
750 750 750 750 750 750 625 625 625 750 625 625 625 625 625 750 750 $54,375
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.
BILL GOOLD 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 2902 South Main Street, Penticton
BILL GOOLD 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!
2902 South Main Street, Penticton $7,500,000 77 Unit Apartment Building Suite Mix 29 – 1 Bedroom 48 – 2 Bedroom
BILL GOOLD 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 2902 South Main Street, Penticton
“Arran House” is an exceptional building, located in the beautiful Okanagan, across the street from the senior’s centre, a short walking distance to Skaha Lake and Penticton’s major shopping centre, and just a short drive to the airport. This four storey apartment building has great street appeal and extensive outdoor Xeriscape plantings which promotes low water usage. The exterior is brick with vinyl siding and a newer torch on roof. There are two hydraulic elevators, and a 100+ stall parking lot which has recently been resealed, the parking lines repainted and new entry/exit signs installed. Tenants have access to four laundry rooms, each having 2 washers and 2 dryers, all coin operated and owned by the building. Extensive renovations have recently been done at a cost of over $95,000. These include new hallway carpets on two floors, new LED lights on all four floors, and a new high efficiency water heater and storage tank. Electric heaters in the halls are on a central control. The fire panel has been replaced, a new hook up for the Fire Standpipe installed, and all fire doors are now on a magnet system to remain open unless a fire occurs. A six camera surveillance system was designed that allows tenants to view from their tv’s any activity around the building and who is buzzing them from the front door. All units have also had the windows refitted for original Mohair insulation, exhaust fan air dampers retrofitted, and all electrical plugs/switches changed to Decora style. Shaw has a new cable system to the building via an underground connection. One third of the cable wiring to the units has been upgraded and Shaw will continue the upgrades at their cost. With any turnover in the units, the owner has repainted with a dual colour scheme, installed new drapes and replaced the carpets as needed. The suites are air conditioned, have smoke detectors, in suite storage, and large balconies. The current tenancy base is mostly seniors, many on multiple year contracts, and they pay their own cable, telephone and electricity.
BILL GOOLD 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 2902 South Main Street, Penticton
Legal Description:
PID: 005-151-945 Lot 1 Plan KAP 26261 District Lot 251 Similkameen Division Yale District
Property Taxes:
2012
$ 53,160
Assessments:
2013
$
1,553,000 Land 5,106,000 Improvements
$
6,659,000
Zoning:
Multifamily Apartment Block
Constructed:
1978
Lot Size:
1.949 acres
Suite Mix:
29 - 1 Bedroom 48 - 2 Bedroom 77
Units Total
Chattels:
77 fridges, 77 stoves, 8 washers, 8 dryers, 2 dishwashers
Financial Encumbrances:
First Mortgage Peoples Trust due November 2014 Vendor will take back second mortgage
BILL GOOLD 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 2902 South Main Street, Penticton
Annual Revenue
Current
Rental Income (Rents x 12) Laundry & Parking (Estimated) Less Vacancy Rate (4%)
Projected
$
587,314 $ 8,500 (23,832)
652,500 8,800 (26,452)
Total Annual Gross Revenue $
571,982 $
634,848
Annual Expenses
Actual 2012
Projected
Advertising Bank Charges & Interest Elevator Maintenance Telephone Licenses & Dues Insurance Property Tax Repairs & Maintenance Wages and Employee Benefits Utilities
$
190 $ 221 5,414 618 543 21,262 53,160 46,200 58,347 35,287
190 221 5,414 618 543 21,262 53,160 46,200 58,347 35,287
Total Annual Expenses Total Annual Net Revenue
$ $
221,242 $ 350,740 $
221,242 413,606
Capitalization Rate
4.67 %
5.51 %
38.68 %
34.85 %
7,500,000 $
97,402
Expense Ratio
Purchase Price $ Actual 2012 rental income is $488,345
BILL GOOLD 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 – MAY 2013 2902 South Main Street, Penticton Unit Monthly Market Unit Type Number Rent Rent 101 102 103 104 105 106 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223
2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom
587.80 587.80 700 588.90 700 685 587.80 700 466.60 714.50 588.90 613.80 685 700 700 700 725 725 613.80 600 522.90 625 700 538 600 606.20 625 600 587.80
750 750 750 750 750 750 750 750 625 750 750 750 750 750 750 750 750 750 750 625 625 625 750 625 625 625 625 625 750
BILL GOOLD 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!
Unit Number
Unit Type
Monthly Rent
Market Rent
301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 401 402 403 404 405 406 407
2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom
639.80 639.80 581.20 685.80 700 639.80 639.83 725 700 639.80 685 639.80 700 549.90 538 600 639.80 600 538 549.90 625 522.10 639.80 700 685 656.05 538 688.38 634.14 714.10 658.20
750 750 625 750 750 750 750 750 750 750 750 750 750 625 625 625 750 625 625 625 625 625 750 750 750 750 625 750 750 750 750
BILL GOOLD 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!
Unit Number 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424
Unit Type
2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom TOTAL
Monthly Rent
Market Rent
685 685 714.50 725 658.20 725 606.20 600 538 659.10 538 616.50 538 600 522.90 714.50 750 $48,942.90
750 750 750 750 750 750 625 625 625 750 625 625 625 625 625 750 750 $54,375
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.
BILL GOOLD 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 2902 South Main Street, Penticton
BILL GOOLD 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!
