WEST SIDE $ 3,100, Unit Apartment Building Suite Mix Bedroom 1 2 Bedroom

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1 WEST SIDE $ 3,100, Unit Apartment Building Suite Mix 10 1 Bedroom 1 2 Bedroom RE/MAX BILL GOOLD REALTY PHONE

2 BUILDING SUMMARY Sterling Apartments is a three storey, walk up building located on a quiet street on the West Side of Vancouver, walking distance to hospital, shops and bus transportation. It is wood construction with stucco exterior which was last painted in The tar and gravel roof was redone in The current owner has taken steps to make this building more energy efficient by insulating the hot water pipes, installing BC power smart lighting in the hallways, and having 4 heat sensors, 2 in the front and two in the back to control heat. The building has natural gas heat with a central heat control. There is a Superhot boiler and 2 separate GE hot water tanks for the domestic hot water that were replaced in The fire alarm system was upgraded approximately 10 years ago and the units all have smoke and heat detectors. Tenants have access to a good sized laundry room with ceramic flooring, 1 Maytag washer, and 1 Maytag dryer (which are owned by the building) at a cost of $1.25 per load. There is open parking available for 6 vehicles and each tenant has access to one of the 11 storage units. There is an intercom system at the entrance, and the carpets and walls in the hallways are in excellent condition. The stairwells have new lino tiles and the entry to each suite has a solid wood door. Units have single glazed windows with blinds for covering and hardwood flooring. The kitchens have had the appliances replaced as needed as well as refurbishment of the cabinets. They also have arborite counter tops, large single sinks, 24 frost free fridges and 24 stoves. Some of the units have ceramic tile and some have lino in the kitchens. Bathrooms have mosaic tile flooring, wood vanities, arborite countertops and ceramic tile tub surrounds. The electrical panels are circuit breakers. Many of the units have beautiful mountain views and extra closet space. This is an excellent opportunity to own a building in the desirable West Side of Vancouver. RE/MAX BILL GOOLD REALTY PHONE

3 PROPERTY INFORMATION Legal Description: PID: Lot 5 Block 435 District Lot 526 Plan 1276 Property Taxes: 2013 $8,707 Assessments: 2013 $ 1,725,000 Land 760,000 Improvements $ 2,485,000 Zoning: RM-3 Multiple Dwelling Constructed: 1958 Lot Size: 50 x 125 Suite Mix: 10-1 Bedroom 1-2 Bedroom 11 Units Total Chattels: Contracts: 11 Fridges, 11 Stoves, 1 Washer, 1 Dryer Superior Garbage Financial Encumbrances: Treat as Clear Title RE/MAX BILL GOOLD REALTY PHONE

4 FINANCIAL SUMMARY Annual Revenue Current Projected Rental Income (Rents x 12) $ 111,672 $ 154,596 Laundry 2,640 2,640 Less Vacancy Rate (.5%) (571) (767) Total Annual Gross Revenue $ 113,741 $ 156,469 Annual Expenses Actual 2011 Projected Business License Gas 6,267 6,267 Hydro Insurance 2,551 2,551 Property Tax 7,105 8,707 Repairs & Maintenance (normalized) 7,150 7,150 Waste Collection Water and Sewer 1,352 1,352 Total Annual Expenses $ 26,513 $ 28,115 Total Annual Net Revenue $ 87,228 $ 129,354 Capitalization Rate 2.81 % 4.17 % Expense Ratio % % Purchase Price $ 3,100,000 $ 281,818 Actual 2012 Rental Income is $109,079. RE/MAX BILL GOOLD REALTY PHONE

5 RENT ROLL July 2013 Unit Number Unit Type Monthly Rent Market Rent Bedroom $ 980 $ 1, Bedroom 890 1, Bedroom 695 1, Bedroom 808 1, Bedroom 860 1, Bedroom 898 1, Bedroom 875 1, Bedroom 750 1, Bedroom 900 1, Bedroom 775 1, Bedroom 875 1,116 TOTAL $ 9,306 $ 12,883 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. RE/MAX BILL GOOLD REALTY PHONE

6 LOCATION RE/MAX BILL GOOLD REALTY PHONE