PORT ALBERNI & 3846 Anderson Avenue, Port Alberni $2,250,000

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1 PORT ALBERNI $2,250,000 Suite Mix 20 Unit Apartment Building 1 Bachelor, 6-1 Bedroom, 13-2 Bedroom 17 Unit Apartment Building 1 Bachelor, 10-1 Bedroom, 6-2 Bedroom

2 BUILDING SUMMARY Two buildings located in Port Alberni, minutes to Parks and Recreation centre, shopping, transportation and hospital. These three storey apartments are wood frame with stucco exterior and have torched on roofs that have been replaced. They are good quality buildings in great physical condition and are nicely landscaped. Both structures are similar in construction and floor plan and must be purchased together. The Clifton Apartment was built in 1961 and is a 20 unit building consisting of 1 bachelor, 6-1 Bedroom, and 13-2 Bedroom suites. The Patricia Apartment was built in 1963 and is a 17 unit building consisting of 1 bachelor, 10-1 Bedroom, and 6-2 Bedroom suites. The mutual driveway between the two buildings gives good access to the parking area on the side and rear of the buildings. There are 3 separate carports which can provide 8 vehicles each for a total of 24 covered parking area. There is also open parking available. The buildings have emergency lighting and fire system, intercom and phone system. The furnace is in excellent condition and there are multitemp 3 burner boilers which also supply water for the domestic hot water system. The super hot boiler was replaced in 1993 for heat and hotwater. There is a modern service panel to the building with individual meters and a separate breaker box panel for each suite. Due to an insurance claim the Clifton Apartment has been repaired like new with new bathrooms, toilets and tub surrounds, new kitchens, frost free fridges, stoves and hood fans. Each building has 2 washers and 2 dryers with a washroom in the common area. The 2 bedrooms have 2 piece ensuites with walk through to a large closet area. Each suite has a private patio or sundeck and in the Patricia, 3 tenants have private large enclosed court yards. Excellent opportunity to own on Vancouver Island.

3 RENT ROLL - January Anderson Avenue, Port Alberni Unit Number Unit Type Monthly Rent Market Rents 1 Bachelor Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom TOTAL $11,604 $11,960 $2,250,000 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 RENT ROLL 3846 Anderson Avenue, Port Alberni Unit Unit Type Monthly Rent Market Rents Number Bedroom Bachelor Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom $12,333 $14,700 *#105 is manager s unit no rent collected in lieu of services 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.

5 FINANCIAL SUMMARY Annual Revenue 2009 Projected Rental Income (rents x 12) $287,244 $319,920 Laundry 6,234 6,660 Less Vacancy Rate (5%) (16,329) Total Annual Gross Revenue $293,478 $310,251 Annual Expenses 2009 Advertising Cable 7,606 7,606 Caretaker (estimated)* 18,000 18,000 Insurance 5,369 5,369 License Property Taxes 14,176 14,176 Repairs and Maintenance 17,687 17,687 Security Utilities 47,969 47,969 Total Annual Expenses $112,473 $112,473 Total Annual Net Revenue $181,005 $197,778 Capitalization Rate 8.04% 8.79% Expense Ratio 38.32% 38.26% Price/Price Per Unit $2,250,000 $60,810 *Expense for Caretaker is an estimate only for hiring a full time caretaker. Current owners have a part time caretaker who gets free suite rental.

6 PROPERTY INFORMATION Legal Description: PID#: / Plan Lot 1 DL 1 LD 01 Plan Lot 1 DL 1 LD 01 Suite Mix 37 Units Total Chattels: 2 Bachelor 16-1 Bedroom 19-2 Bedroom 37 fridges, 37 stoves Zoning: Multi Family Apartment Block Lot Size: 117 x x 181 Age: 49 Years (Constructed 1961) 47 Years (Constructed 1963) Property Taxes 2009: $14, Assessments 2010: Land $ 555,000 Improvements $ 843,000 Total $1,398,000 Financial Encumbrances: Treat as Clear Title $2,250,000

7 LOCATION