6709 Sussex Ave. For Sale 10 Suite Apartment Building. Burnaby, British Columbia. For more information:

Transcription

1 Burnaby, British Columbia For Sale 10 Suite Apartment Building For more information: Terry Harding Senior Vice President Jackson Tang Vice President Brandon Harding NAI Commercial 535 Thurlow Street, Suite 100 Vancouver BC V6E 3L apartmentblocks.ca

2 For Sale Location The subject property is located in the Metrotown area of Burnaby. The building is situated on the west side of Sussex Ave between Bereford Street to the north and Imperial Street to the South. Metrotown Shopping Mall and SkyTrain are within 5 minutes of walking distances. Kingsway Station Square Metropolis Central Park Metrotown SkyTrain Station Maywood St Sussex Ave SUBJECT Imperial St NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMA- TION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. Ag/6709_SussexAve.indd/Sep /TH

3 Property Summary Apartment Building Address Legal Description Lot Size, Plan NWP 1566 Lot 23 LD153 LD36 PID: ,778 square feet Age Constructed in 1963 Zoning RM-3 (Multi-Family) Property Tax Land $1,141,000 Assessment 2015 Improvements $ 678,000 Total $1,819,000 Suite Mix 1 Bachelor (unauthorized) 7 One-Bedroom 2 Two-Bedroom Penthouse 10 Total Parking 6 open stalls Income Analysis Stabilized Potential Gross Income $105,720 $117,746 Expenses $ 38,253 $ 39,626 Net Income $ 67,467 $ 78,120 Investment Analysis Stabilized Potential Listing Price $2,650,000 Price per Suite $265,000 $265,000 Cap Rate 2.6% 3.0% NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMA- TION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.

4 Apartment Building Building Improvements The Building The subject property is a 2-storey wood frame apartment building. All suites are generous in size and offers hardwood floor. The building provides the tenants with storage lockers and a shared laundry room with one washer and one dryer. Major upgrades in the buildings include: New torch-on roof New gas boiler All windows have been updated with double glazed glass The building is heated with domestic hot-water heating system which is supplied by a new gas furnace. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPE- CIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.

5 Apartment Building NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.

6 RENT ROLL Rent Roll Suite # Suite Type Current Rent Potential Rent* 101 Two Bedroom $ 1,150 $ 1, One Bedroom $ 760 $ 103 One Bedroom $ 800 $ 104 One Bedroom $ 800 $ 105 Bachelor- Unauthorized $ 700 $ Two Bedroom $ 1,150 $ 1, One Bedroom $ 925 $ 203 One Bedroom $ 800 $ 204 One Bedroom $ 800 $ 205 One Bedroom $ 800 $ Total 10 $ 8,685 $ 9,785 * Potential rent based on Fall 2014 CMHC Rental report NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPE- CIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.

7 Financial FINANCIAL STATEMENT Stabilized Potential Jan - Dec 2014 Jan - Dec Income Rental Income $ 104,220 $ 117,420 Laundry Income* $ 1,500 $ 1,500 Vacancy Loss ( 1%) $ - $ (1,174) Total Income $ 105,720 $ 117,746 Expenses Insurance $ 2,686 $ 2,700 Sanitation $ 1,836 $ 1,900 Property Tax 2014/2015 $ 7,610 $ 7,771 Licenses and Permits $ 255 $ 255 Utilities Gas and Electricity $ 11,071 $ 11,500 Water and Sewer $ 5,828 $ 6,000 Repair and Maintenance $ 5,467 $ 6,000 Wages and Benefit $ 3,500 $ 3,500 Total Expenses $ 38,253 $ 39,626 Net Income $ 67,467 $ 78,120 Cap Rate 2.6% 3.0% * Estimated NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPE- CIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.