FOR SALE $5,100,000. Bill Goold Realty 1525, 1527, 1529, 1595 Boundary Crescent, Nanaimo

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1 FOR SALE Boundary Ridge Apartments 1525, 1527, 1529, 1595 Boundary Crescent, Nanaimo $5,100,000 James Blair Personal Real Estate Corporation (604) Selling Apartment Buildings as if they were our own! Bill Goold Realty RE/MAX Bill Goold Realty 410 North Tower 650 West 41 st Avenue Vancouver, BC V5Z 2M9

2 BUILDING SUMMARY BUILDING DESCRIPTION & HIGHLIGHTS Boundary Ridge Apartments consists of 4 rental apartment buildings on two separate legal titles. Each building has its own civic address: 1525, 1527, 1529, and 1595 Boundary Crescent. For record keep purposes, the Vendor has designated them as: Building A (1525 Boundary Crescent): 12 units Building B (1527 Boundary Crescent): 12 units Building C (1529 Boundary Crescent): 12 units Building D (1595 Boundary Crescent): 15 units CIVIC ADDRESS Boundary Crescent Nanaimo, BC PROPERTY IDENTIFIER LEGAL DESCRIPTION LT 2 & 3 PL VIP LD 32 ZONING R8 Medium Density Residential LOT SIZE 56,447 sq.ft. (1.295 acres) PROPERTY TAXES (2015) $35, ASSESSMENT COMBINED (2014) Land $ 880,000 Improvements $2,812,000 Total $3,692,000 SUITE MIX 51 Residential suites: 4-Bachelor 25-1 Bedroom 22-2 Bedroom YEAR BUILT TYPE OF CONSTRUCTION 3-storey wood frame BALCONIES AND PATIOS Yes all suites PARKING Surface parking stalls HEAT Gas fired boiler ELECTRICITY Breakers BUILDING(S) IMPROVEMENTS Property landscaped in Retaining wall/sidewalk and landscaping of all frontage being done by the City is nearing completion. Majority of units have been upgraded to laminate flooring. Suite doors have been refinished and re-painted with brushed nickel hardware. All units have single lever faucets and modern light fixtures. Low energy lighting installed in common areas. Hallway carpets replaced in All entry intercoms replaced. Exterior of buildings repainted in Upgraded appliances. 5 units have dishwashers: A3, A9, C3, C11 and C12. All roofs are torch-on material. All furnaces and hot water tanks are gas fired and in good working order. New security camera system installed in 2013.

3 LOCATION OVERVIEW Nanaimo is a waterfront city that acts as the hub of Vancouver Island, due to its central location. Located on the east coast of Vancouver Island, Nanaimo is located approximately 110km northwest of Victoria, and 55km west of Vancouver. Nanaimo is separated from Vancouver by the Straight of Georgia, but linked via passenger ferries, which depart from Departure Bay in Nanaimo, and arrive in Horseshoe Bay on the mainland. With the city projecting in the Straight of Georgia, Nanaimo offers one of the longest shorelines in Canada affording waterfront on three sides, spectacular ocean views at every turn, and a forested mountain backdrop just outside of downtown. Here you can go from the wilderness to the city centre in just a few minutes, and spend more time in the places you want to be. As the second largest city on Vancouver Island, Nanaimo promises a lively and unique urban experience.

4 LOCATION OVERVIEW Boundary Ridge Apartments is a 51 unit multi residential property located in the Central Nanaimo neighbourhood of Nanaimo, and offers proximity to Downtown, the University District, Departure Bay, and the Nanaimo Parkway (Highway 19). The Properties are located steps from the largest Regional General Hospital in B.C. and directly next door to a newly opened 4 story medical and professional building. This area is one of the most sought after in Nanaimo due to its popular central location. Short distances to local schools: Forest Park Elementary (1.3 km) and Woodlands Secondary School (800 m). A strip mall (complete with a pharmacy and a friendly neighbourhood pub) is directly across the street. NANAIMO PARKWAY (HIGHWAY 19) PRYDE VISTA GOLF COURSE KORAM PARK NANAIMO REGIONAL GENERAL HOSPITAL 1525, 1527, 1529, 1595 BOUNDARY CRESCENT Brooks Landing is located within walking distance (1.2 km). Quality Foods, Royal Bank, Home Hardware, Staples, Tim Hortons are among a few of the businesses in this shopping mall. Nanaimo s city council has adopted a Complete Streets initiative, meaning streets are targeted to provide safe places for all road users (pedestrians, cyclists, transit users and drivers). Boundary Crescent was the first area to see completion of this initiative with upgrades to sidewalks/crossroads and clearly defined bicycle lanes now in place. Although most residents in the area prefer to commute by car, buses are available nearby along Dufferin Crescent, Townsite Road, and Bowen Road.

5 CASH FLOW ANALYSIS ACTUAL YEARLY YEARLY/UNIT % OF EGI REVENUE Rental Income [1] $426,420 $8,361 Laundry [2] $9,180 $180 Gross Income $435,600 $8,541 Less: Vacancy 2.90% [3] $12,632 $248 EFFECTIVE GROSS INCOME $422,968 $8,293 EXPENSES [4] Property Taxes (2015) $35,005 $ % Insurance $9,927 $ % Utilities: Gas $38,000 $ % Utilities: Electricity $3,400 $ % Utilities: Garbage $3,927 $ % Utilities: Water/Sewer $15,004 $ % Caretaker $22,904 $ % Management [5] $12,689 $ % Repair & Maintenance [6] $38,250 $ % TOTAL EXPENSES $179,106 $3, % TOTAL NET INCOME $243,862 Asking Price $5,100,000 $100,000 Cap Rate 4.78% [1] Income based on October 2015 Rent Roll Annualized [2] Laundry is estimated at $15/unit/month [3] CMHC Spring 2015 vacancy rate [4] Expenses for year ended 2014 except where noted [5] Stabilized at 3% of EGI [6] Stabilized at $750/unit/year

6 INTERIOR PHOTOS

7 Bill Goold Realty For more information, please contact: James Blair Personal Real Estate Corporation 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