42 UNIT APARTMENT BUILDING

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1 BUILDING SUMMARY 42 UNIT APARTMENT BUILDING 319 KNOX 1285 Martin STREET Street, White Rock NEW WESTMINSTER BC LIST PRICE $6,280,000 SUITE MIX: 42 units 3 Bachelors 33-1 Bedrooms 6-2 Bedrooms PROPERTY HIGHLIGHTS: Outstanding location close to Royal Columbian Hospital with great access to transit and shopping Large lot on a quiet street Ample underground parking and tenant amenities Excellent curb appeal Bill Goold James Blair Patrick McEvay David Venance contact@billgooldrealty.com 410 North Tower, 650 West 41 st Avenue Vancouver, BC V5Z 2M9 Each office is independently owned and operated. This communication is not intended to cause or induce breach of an existing agency agreement

2 BUILDING SUMMARY MUNICIPAL ADDRESS: 319 Knox Street New Westminster, BC V3L 3N4 PID LEGAL DESCRIPTION Lot 22 Suburban Block 3 Plan ZONING NEIGHBOURHOOD RM-2 Multiple Family Apartment Block Sapperton YEAR BUILT 1971 LOT SIZE 132 x 195 (25,754 sq. ft.) 42 RESIDENTIAL UNITS 3 Bachelors, 33-1 Bedrooms, 6-2 Bedrooms ELEVATORS BALCONIES CHATTELS PARKING CONTRACTS ASSESSMENT 2014 ROOF Yes Armour Basement Traction Yes every unit 3 Huebsch washers & dryers, 42 fridges & stoves 19 Secured underground parking (including bike rack parking) & 23 covered stalls Shaw, BFI, Richmond Land $1,931,000 Building $2,630,000 Total $4,561,000 Torch On Replaced within last 10 years HEAT Quad Multitemp Gas Boiler Installed 1981 ELECTRICAL Fuse Panels 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.

3 BUILDING DESCRIPTION Montego Apartments is a 42 unit, four story, wood frame walk up apartment building, located on a quiet street with a beautifully landscaped yard, lending excellent curb appeal. The building is heated by a Quad Multitemp boiler, and has 2 domestic hot water storage tanks. There is a central laundry room with 3 Huebsch washers and 3 Huebsch dryers, which are owned by the bulding. 19 secured underground parking stalls are available, and an additional 23 covered stalls. There are enough storage lockers to accommodate all suites. The torch on roof was replaced within the last 10 years. All four floors are serviced by a Armour traction elevator. The units are bright and spacious and each has a balcony or patio with sliding glass doors and single pane windows. The electrical panels are fuses, and all units have heat and smoke detectors along with their own in-suite heat controls for the hot water baseboard heaters. Every unit is connected to the intercom system. The bathrooms have vinyl floors, arborite counters, heat lamps, exhaust fans, and the bathtubs have a ceramic tile surround. The kitchens offer newer appliances with electric ranges and frost free fridges, painted hardwood cabinets, arborite counters, and all have exhausted hood fans.

4 FINANCIAL SUMMARY REVENUE Rental Income 1 $436,440 Laundry 9,076 Parking 6,300 Gross Income $451,816 Less: Vacancy (2.2%) 9,601 EFFECTIVE INCOME $442,215 EXPENSES 2013 Per Unit Insurance 13, Property Taxes 25, Repair & Maintenance 19, Utilities 2 35, License 1, Bank Charges Caretaker 27, Cable 19, Waste Removal 3 16, TOTAL EXPENSES 4 159,665 3,801 Expense Ratio 36% TOTAL NET INCOME $282,550 Asking Price $6,280,000 $149, Cap Rate 4.50% 1. Actual Rental Income for 2013 was $422, Utilities: Gas $21,892, Hydro $4,520, Water/Sewer $9,200 (stabilized ) 3. Waste Removal: Solid Waste $13,510, Waste Collection $2, Expenses not including Capital Improvement of $ for flooring & appliances 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.

5 LOCATION Subject Property C9 NEW WESTMINSTER STATION 128 BRAID STN/22ND STREET 155 BRAID STN/22ND STREET 996 MILLENNIUM SKYTRAIN The Montego Apartments are located in Sapperton, New Westminster, the oldest city in Western Canada. The Royal City is a vibrant transportation hub with five rapid transit stations and access to major highways, rail, and water. This property provides quick access to transit, with bus routes only a 4 minute walk away and the Sapperton SkyTrain Station only a 10 minute walk away. Thirty minutes from downtown and to the US border this urban community still maintains its small-town charm. Tenants are only a 10 minute drive away from the Westminster Quay Boardwalk, which is a 2-mile long flower-lined esplanade along the Fraser River. Ideal for leisurely strolls this walkway leads to the River Market. Open since 1986, the River Market is a culinary destination featuring 70,000 sq.ft. of food vendors, restaurants, and cooking schools. It also features a variety of boutiques and commercial space. Residents will also find many amenities along East Columbia Street which is only one block east of the Subject Property. Montego Apartments prime location in the heart of New Westminster makes this an investment property worth exploring. 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.

6 NEIGHBOURHOOD 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. Scores are marked out of 100 points (All information courtesy of Restaurants Bars Coffee Shops Fresh slice Pizza Subway Sandwiches & Salads Starbucks Tim Horton's Errands Entertainment Vagabond Theatre The Royal Museum of New Westminster The Medicine Shoppe Pharmacy TD Bank Financial Group Busy Bee Machine Tools Ltd. Greater Vancouver Community Center Scotiabank Groceries Source of Life Products M&M Meat shops Safeway New West Health Center Health Town Vitamins Parks Sapperton Park Hume Park Cariboo Park Bill Goold James Blair Patrick McEvay David Venance 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. July 31, 2014