1396 West 11 th Avenue Vancouver, BC
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1 BUILDING SUMMARY 1396 West 11 th Avenue Vancouver, BC 1285 Martin Street, White Rock APARTMENT BUILDING FOR SALE LISTED PRICE $4,700,000 Suite Mix: 20 Units 6 Bachelor 12-1 Bedroom 2-2 Bedroom Property Highlights: Prime South Granville Location Walking Distance to Shops & Restaurants Character Building Great Exposure on Hemlock Street Bill Goold James Blair Patrick McEvay David Venance CONTACT PATRICK MCEVAY FOR FURTHER DETAILS patrick@billgooldrealty.com 410 North Tower, 650 West 41 st Avenue Vancouver, BC V5Z 2M9 RE/MAX Bill Goold Realty billgooldrealty.com Selling Apartment Buildings as if they were our own!
2 BUILDING SUMMARY CIVIC ADDRESS 1396 West 11 th Avenue Vancouver, V6H 1K8 PID / NEIGHBORHOOD LEGAL DESCRIPTION LOT SIZE Fairview AMENDED LOT C BLOCK 392 DISTRICT LOT 526 PLAN 2657 LOT A BLOCK 392 DISTRICT LOT 526 PLAN x 125 (6,250 sq. ft.) 20 RESIDENTIAL UNITS CHATTLES ZONING 6- Bachelor 12-1 Bedroom 2-2 Bedroom 20 Fridges, 20 Stoves, 2 Washers, 2 Dryers RM-3 Multiple Family Dwelling CONSTRUCTED 1925 PROPERTY TAXES 2014 $15,149 ASSESSMENT 2014 Land Improvements Total $1,674,000 $2,427,000 $4,101,000
3 UNIT DESCRIPTION The Winston is a three storey walk up apartment building situated on a corner lot, within walking distance to Granville Street with luxury shopping and restaurants, and is minutes to downtown. This is a beautiful character brick building with wood trim, and single glazed windows. It had a Heritage C listing in This location is in a highly desirable area of Vancouver and attracts quality tenants. It is also kitty corner to a seniors center. There is a covered entrance with an intercom system and double glass doors that lead to the bright lobby which has ceramic tile and oak hand rails. The hallways have hardwood floors with carpets, chair rails, and the stair wells have stained glass windows to enhance the natural light. There is a spacious laundry room with two Huebsch washers and two Huebsch dryers (one set new in 2012) which are owned by the building. The tenants have access to the 11 storage lockers. There is a superhot boiler to heat the building and a separate giant hot water tank for the domestic hot water. The oil tank was drained and steam cleaned in The electrical boxes are fuses. Most suites have beautiful hardwood floors with 8 baseboard mouldings, nice doors with character moulding, and photo electric smoke and heat detectors that were installed in Kitchens have lino floors, refurbished wood cabinets, single sinks, 24 frost free fridges and 24 gas stoves. Some of the units have nooks and six of the units have fireplaces. Bathrooms have claw bath tubs with pedestal sinks and built in mirrored medicine cabinets. Some of the units have a very large 4 x 13 closet with window, that can be used as a den or a dressing room. Please note that this building had four suites added prior to 1967.
4 RENT ROLL September 2014 UNIT UNIT TYPE SQUARE FOOTAGE MONTHLY RENT 1 1 Bedroom Bedroom 588 1,025 3 Bachelor Bedroom Bedroom Bedroom Bedroom Bachelor Bedroom Bachelor Bedroom 616 1, Bedroom 627 1, Bedroom 737 1, Bedroom 655 1, Bachelor Bedroom 539 1, Bachelor Bedroom 616 1, Bedroom A Bachelor TOTAL 10,719 $19,665
5 FINANCIAL SUMMARY $ YEARLY $ YEARLY/UNIT REVENUE Rental Income 235,980 11,799 Laundry (estimated) 3, Gross Revenue 239,580 11,979 Less: Vacancy (1%) (2,360) (118) EFFECTIVE GROSS INCOME 237,220 11,861 EXPENSES Business License 1, Garbage 1, Gas 12, Hydro 1, Insurance 7, Micsellaneous Expenses 11, Property Taxes 14, Repair & Maintenance 14, Water and Sewage 3, TOTAL EXPENSES 67,755 3,388 NET INCOME $169,465 Asking Price $4,700,000 $235,000 Gross Rent Multiplier NOTES: The above Annual expenses do not include management fees, payroll, vehicle or office expenses. This property is run from a central office where the payroll covers various services including centralized caretaking, maintenance and additional repairs. Purchasers are advised to seek independent advice regarding operating costs of similar buildings before making an offer to purchase.
6 NEIGHBOURHOOD 10, N10, 9, 99-Bline, 14, 16 Restaurants Bars Coffee Shops Vij s Siena Restaurant Starbucks The Marquis Groceries Sun On Market Meinhardt Fine Foods Supplement Garden Shopping West Broadway Shopping Pacific Center Granville Island Parks Granville Park Shaughnessy Park Choklit Park Errands Entertainment The Waterfall Building Elan Fine Art Limited Scotiabank Pharmasave Bill Goold James Blair Patrick McEvay David Venance contact@billgooldrealty.com Date prepared: October 1, 2014 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.
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