WEST SIDE West 11 th Avenue, Vancouver $2,950, Unit Apartment Building Suite Mix 8 Junior 1 Bedroom 4 Bachelor Bedroom 1 2 Bedroom

Transcription

1 WEST SIDE $2,950, Unit Apartment Building Suite Mix 8 Junior 1 Bedroom 4 Bachelor Bedroom 1 2 Bedroom

2 BUILDING SUMMARY Oakville Manor is located on the West Side of Vancouver in one of the most sought after areas in the City. This very well cared-for apartment has been owned by the same family since it was new and the tenants have been carefully hand picked! Built in 1961 this three storey walk up consists of wood construction with stucco exterior, a tar and gravel roof and has all new double glazed windows. It sits on a nicely landscaped lot close to all amenities including shops along Broadway, transportation, Vancouver General Hospital and is minutes to downtown Vancouver. There are 6 open parking stalls, 14 storage lockers and storage for 7 bikes. The original boiler is very well maintained and there are separate hot water tanks for domestic hot water. All electrical panels are on circuit breakers. In 2007 the oil tank was removed and the parking lot repaved. The front entrance has tiled floors and a lovely rock wall. The lobby is clean and tastefully decorated and has the mailboxes for each unit. The skylights in the top floor hallways along with the windows in the stairwells bring in lots of natural light. The carpets in the hallways were replaced in The large bright laundry room has a new Whirlpool washer and dryer set which are owned. The doors to the suites are solid oak as well as the baseboard mouldings throughout. The units have smoke and heat detectors, lots of closet space, and many have new blinds. There are hard wood floors which are in pristine condition. The bathrooms have mosaic tiled floors, bath fans, and ceramic tile to the ceiling in the tub surround. In the kitchens most appliances have been replaced in the last 5 years with frost free fridges and new stoves, new hood fans, and tastefully refinished with newer faucets, and wood cabinet doors refinished with new hardware.

3 RENT ROLL September 1, 2009 Unit Number Unit Type Monthly Market Rents Rent 1 2 Bedroom 1, Bedroom 1, Junior 1 Bedroom Bachelor Junior 1 Bedroom Junior 1 Bedroom Bachelor Junior 1 Bedroom Junior 1 Bedroom Bachelor Junior 1 Bedroom Junior 1 Bedroom Bachelor Junior 1 Bedroom TOTAL $12,414 $13,650 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.

4 FINANCIAL SUMMARY Annual Revenue Actual Market Rents Rental Income (rents x 12) $148,969 $163,800 Laundry 2,016 2,016 Parking 1,800 1,800 Less Vacancy Rate (1%) (1,527) (1,676) Total Annual Gross Revenue $151,258 $165,940 Annual Expenses Jan-Dec 2008 Gas 9,954 9,954 Hydro 3,641 3,641 Insurance 6,543 6,543 Pest Control Property Taxes & Licenses 8,742 8,742 Repairs & Maintenance 8,613 8,613 Telephone Waste Collection 2,069 2,069 Water & Sewer 1,550 1,550 Total Annual Expenses $42,288 $42,288 Total Annual Net Revenue $108,970 $123,652 Capitalization Rate 3.67% 4.19% Expense Ratio 27.95% 25.48% List Price/Price Per Unit $2,950,000 $210,714 Expenses not including Manager s wages and deductions of $9,

5 PROPERTY INFORMATION Legal Description PID Plan 1276 Lot 4 Block 395 District Lot 526 Land District 36 Suite Mix 14 Units Total Chattels Zoning 8 Junior 1 Bedroom 4 Bachelor Bedroom 1 2 Bedroom 14 fridges, 14 stoves 1 washer, 1 dryer RM-3 Multiple Dwelling Lot Size 50 x 125 Age 49 Years (Constructed 1961) Property Taxes 2009 $8, Assessments 2010 Land $1,312,000 Improvements $ 777,000 Total $2,089,000 Financial Encumbrances Contracts Treat as clear title North West Waste $2,950,000

6 LOCATION