WESTPARK MANOR $1,325, UNIT MULTI-FAMILY APARTMENT BUILDING IN PROXIMITY TO SCHOOLS, HOSPITAL, AND DOWNTOWN PORT HARDY

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Brooke Barton
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FOR SALE 7225 Highview Road, Port Hardy LIST PRICE: $1,325,000 41-UNIT MULTI-FAMILY APARTMENT BUILDING IN PROXIMITY TO SCHOOLS, HOSPITAL, AND DOWNTOWN PORT HARDY CONTACT JAMES BLAIR FOR FURTHER

1 FOR SALE 7225 Highview Road, Port Hardy LIST PRICE: $1,325, UNIT MULTI-FAMILY APARTMENT BUILDING IN PROXIMITY TO SCHOOLS, HOSPITAL, AND DOWNTOWN PORT HARDY CONTACT JAMES BLAIR FOR FURTHER DETAILS (604) 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! RE/MAX Bill Goold Realty North Tower, 650 West 41 st Avenue, Vancouver, BC V5Z 2M9

PROPERTY SUMMARY CIVIC ADDRESS: 7225 Highview Road Port Hardy, V0N 2P0 PROPERTY IDENTIFIER: 000-187-267 LEGAL DESCRIPTION: Lot 1 Plan 32757 Section 36 Township 9 Land District 49 ZONING: RAM1 Multi

YEAR BUILT: 1979 CONSTRUCTION TYPE: 4 storey wood frame 41 RESIDENTIAL UNITS: 3 Bachelor 13 1 Bedroom 25 - Two Bedroom ELEVATOR: Yes BALCONIES/PATIOS: Yes PARKING: Yes 59 surface stalls PROPERTY

2 PROPERTY SUMMARY CIVIC ADDRESS: 7225 Highview Road Port Hardy, V0N 2P0 PROPERTY IDENTIFIER: LEGAL DESCRIPTION: Lot 1 Plan Section 36 Township 9 Land District 49 ZONING: RAM1 Multi Family Apartment Block LOT SIZE: 81,457 sq.ft. YEAR BUILT: 1979 CONSTRUCTION TYPE: 4 storey wood frame 41 RESIDENTIAL UNITS: 3 Bachelor 13 1 Bedroom 25 - Two Bedroom ELEVATOR: Yes BALCONIES/PATIOS: Yes PARKING: Yes 59 surface stalls PROPERTY TAXES (2014): $7,459 ASSESSMENT JULY 2014: Land $ 92,900 Improvement $613,000 Total $705,900 HIGHLIGHTS: Proximity to shopping, hospital, schools, and the downtown core of Port Hardy Excellent suite mix Elevator service Balconies or patios for every suite Ample parking Electric baseboard heat paid for by tenants Lindsay Manor, a 56-suite building, is directly adjacent to the Property and is also available for sale

Amenities can be found on Granville Street, which leads to Port Hardy s ocean-front downtown core.

BC Ferries links Port Hardy with several remote communities along the breathtaking Inside Passage and Discovery Coast routes to Prince Rupert and Bella Coola.

3 LOCATION PROFILE LOCATION Port Hardy is a rural town located on the northern tip of Vancouver Island. With a growing population of approximately 4,000 habitants, Port Hardy has aggressive economic development initiatives along with short-term and long-term strategic goals to attract businesses. Amenities can be found on Granville Street, which leads to Port Hardy s ocean-front downtown core. Along the shore are many restaurants and pubs offering breathtaking views of the Queen Charlotte Strait and its wildlife. BC Ferries links Port Hardy with several remote communities along the breathtaking Inside Passage and Discovery Coast routes to Prince Rupert and Bella Coola. Over the last several decades, Port Hardy has become synonymous with outdoor activities and adventure. Flanked by coniferous forest on one side and the Queen Charlotte Strait on the other, visitors are just steps away from a vast expanse of untamed wilderness. Port Hardy offers kayaking, hiking & parks, scuba diving, wildlife viewing, beaches, and cultural tours. Port Hardy is the starting point for the world famous Cape Scott Provincial Park and the North Coast Trail. Additionally Port Hardy serves as a home away from home for many of the northern commercial fishing fleet. With an abundance of salmon, cod, and halibut it is an ideal fishing destination.

PROPERTY DESCRIPTION THE OPPORTUNITY Westpark Manor is a conveniently located apartment building; close to the hospital, schools, and the downtown core.

The adjacent property, Lindsay Manor, is also available for sale.

The roof consists of flat wood trusses with a membrane cover and was replaced in 1992. The windows are dual pane aluminum sash.

The building is serviced by a four stop 1500 pound Montgomery Passenger elevator. The laundry room is on the main level and has 3 washers and 3 dryers.

Parking facilities include 2 separate entrances with 59 surface parking stalls.

4 PROPERTY DESCRIPTION THE OPPORTUNITY Westpark Manor is a conveniently located apartment building; close to the hospital, schools, and the downtown core. The suites are very well maintained as they are regularly taken care of and upgraded before they are rented out. The adjacent property, Lindsay Manor, is also available for sale. BUILDING DESCRIPTION The building is 4-storey wood frame construction with aluminum siding and cedar trims. The roof consists of flat wood trusses with a membrane cover and was replaced in The windows are dual pane aluminum sash. Hallways are carpeted and are in above average condition. There is linoleum in the laundry areas and ceramic tile in the entrance foyer. The building is serviced by a four stop 1500 pound Montgomery Passenger elevator. The laundry room is on the main level and has 3 washers and 3 dryers. The exterior is landscaped with an outdoor tennis court complete with 11 high chain link fencing. Parking facilities include 2 separate entrances with 59 surface parking stalls. A typical suite has a living/dining area with galley kitchen featuring wood cabinetry and 24 or 30 stoves and fridges. The bathrooms are a standard 4-piece bathroom complete with vanity. The bathtub surrounds are ceramic tile. Living room, dining room, hallway, and bedrooms are carpeted, and the kitchen and bathroom flooring is linoleum. Electrical baseboard are located in each suite and heating costs are the responsibility of the tenants. Domestic hot water is supplied by an in-suite 40 gallon electrical tank; costs of which are also the responsibility of the tenants. There is an HVAC special intake air system on the roof which supplies fresh air to the hallways.

LOCATION AMMENITIES Restaurants Quarterdeck Pub Mo s Restaurant

Rexall Port Hardy Hospital Home Hardware Parks Carrot Park Port

Liquor Store Shopping Thunderbird Mall tb!

Score Methodology: Walk Score measures the walkability of any

For each address, Walk Score analyzes hundreds of walking routes to

5 LOCATION AMMENITIES Restaurants Quarterdeck Pub Mo s Restaurant Walcan Seafood Hogan s Corner Errand Entertainment Peoples Drug Mart Rexall Port Hardy Hospital Home Hardware Parks Carrot Park Port Hardy Walkway Beaver Harbour Park Groceries Overwaitea Foods BC Liquor Store Shopping Thunderbird Mall tb!s The Bargain Shop Coffee Shops Café Guido Market Street Cafe Walk Score Methodology: Walk Score measures the walkability of any address. For each address, Walk Score analyzes hundreds of walking routes to nearby amenities. Points are awarded based on the distance to amenities in each category. Walk scores are based out of 100. *(All information courtesy of

NEIGHBOURHOOD SHOWCASE Top left: BC Ferries links Port Hardy with several remote communities along the breathtaking Inside Passage and Discovery Coast routes to

Top right: Located less than a 20-minute walk from the Property, the downtown Port Hardy waterfront walkway offers views of wildlife and an unlimited supply of

Bottom: Located 64km to the west is the world class Cape Scott Provincial Park.

6 NEIGHBOURHOOD SHOWCASE Top left: BC Ferries links Port Hardy with several remote communities along the breathtaking Inside Passage and Discovery Coast routes to Prince Rupert and Bella Coola. This ferry service, located 4-minutes from the Property, offers a wide variety of possible scenic day cruises. Top right: Located less than a 20-minute walk from the Property, the downtown Port Hardy waterfront walkway offers views of wildlife and an unlimited supply of fresh sea air to enjoy. The stroll begins at Rotary Park, where two family playgrounds, public washrooms, and the informative Visitor Centre are located. Bottom: Located 64km to the west is the world class Cape Scott Provincial Park. This rugged coastal wilderness park, located at the northwestern tip of Vancouver Island, is home to day hikes or backpacking excursions to explore the sandy beaches and rainforest area. Cape Scott covers 115km of aweinspiring ocean frontage and 30km of remote beaches.

NEIGHBOURHOOD SHOWCASE Top left: The Fort Rupert Trail is a 3.

It is not uncommon to see many different types of wildlife, including black bears, along the trail as well as culturally modified trees.

mountains in the distance. The waterfront is bustling with fishing boats returning with their daily catch, to sea planes taking off and landing.

7 NEIGHBOURHOOD SHOWCASE Top left: The Fort Rupert Trail is a 3.7km trail that follows the traditional route the Kwakiutl First Nations took overland to Bear Cove. It is not uncommon to see many different types of wildlife, including black bears, along the trail as well as culturally modified trees. Top right: Port Hardy is nestled right along the Queen Charlotte Strait offering views of crystal blue waters in the foreground and snow capped mountains in the distance. The waterfront is bustling with fishing boats returning with their daily catch, to sea planes taking off and landing. The numerous benches give the perfect opportunity to sit back and enjoy the view. Bottom: Located on the northwest coast of Vancouver Island, Raft Cove is about 65km from Port Hardy. This popular parks offers day hikes, sea side camping, surfing, scuba diving, and fishing.

8 RENT ROLL August 2015 UNIT MONTHLY TYPE NUMBER RENT ANNUAL RENT 101 [1] 2 Bedroom $625 $7, Bedroom $595 $7, [F] 1 Bedroom $ $4, Bedroom $ $2, Bedroom $475 $5, Bedroom $ $2, [1] 2 Bedroom $570 $6, Bedroom $585 $7, Bedroom $565 $6, [F] 2 Bedroom $ $8, Bedroom $585 $7, [F] 1 Bedroom $795 $9, Bedroom $515 $6, [F] 2 Bedroom $985 $11, [F] 2 Bedroom $985 $11, Bachelor $425 $5, Bedroom $525 $6, Bedroom $565 $6, [F] 2 Bedroom $1,150 $13, Bedroom $635 $7, Bedroom $985 $11,820 UNIT MONTHLY TYPE NUMBER RENT ANNUAL RENT Bedroom $585 $7, [F] 1 Bedroom $575 $6, Bedroom $465 $5, [F] 2 Bedroom $985 $11, Bedroom $585 $7, Bachelor $425 $5, Bedroom $475 $5, [1] 2 Bedroom $500 $6, [F] 2 Bedroom $985 $11, Bedroom $625 $7, Bedroom $615 $7, [1] 2 Bedroom $575 $6, Bedroom $525 $6, Bedroom $515 $6, Bedroom $585 $7, Bedroom $565 $6, Bachelor $400 $4, [F] 1 Bedroom $595 $7, Bedroom $585 $7, [1][F] 2 Bedroom $1,095 $13,140 TOTAL 41 UNITS $25,369 $304,432 [1] Currently vacant- monthly rent is asking price [F] Furnished suite

9 CASH FLOW ANALYSIS YEARLY YEARLY/UNIT % OF EGI REVENUE Rental Income [1] $304,432 $7,425 Laundry [2] $4,920 $120 Gross Income $309,352 $7,545 Less: Vacancy (21.90%) [3] ($67,748) ($1,652) EFFECTIVE GROSS INCOME $241,604 $5,893 EXPENSES Property Taxes $7,459 $ % Insurance $7,273 $ % Utilities [4] $39,311 $ % Elevator $6,187 $ % Licence $308 $8 0.13% Caretaker [5] $24,600 $ % Management [6] $12,080 $ % Repair & Maintenance [7] $30,750 $ % TOTAL EXPENSES $127,968 $3, % TOTAL NET INCOME $113,636 CAP: 8.58% [1] August 2015 rent roll x 12 [2] Estimated at $10 per unit per month [3] Average vacancy for the property January-August 2015 [4] Utilities include hydro, waste removal, gas, and water and sewer [5] Stabilized at $50 per unit per year [6] Stabilized at 5% of EGI [7] Stabilized at $750 per unit per year. Actual R and M for 2014 was $18,720

10 Bill Goold Realty Exclusive Agents For more information, please contact: James Blair Senior Associate (604) 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! RE/MAX Bill Goold Realty

FOR SALE LINDSAY MANOR $1,468, UNIT MULTI-FAMILY APARTMENT BUILDING IN PROXIMITY TO SCHOOLS, HOSPITAL, AND DOWNTOWN PORT HARDY

FOR SALE LINDSAY MANOR $1,468, UNIT MULTI-FAMILY APARTMENT BUILDING IN PROXIMITY TO SCHOOLS, HOSPITAL, AND DOWNTOWN PORT HARDY FOR SALE 7220 Highview Road, Port Hardy LIST PRICE: $1,468,000 56-UNIT MULTI-FAMILY APARTMENT BUILDING IN PROXIMITY TO SCHOOLS, HOSPITAL, AND DOWNTOWN PORT HARDY CONTACT JAMES BLAIR FOR FURTHER DETAILS