|
 SEE
MAP
 RENT ROLL & STATEMENT
Location
The subject property is located on the south side of West 13th Avenue, a half block west of Oak Street and 4 blocks east of Granville Street. Close to Vancouver General Hospital, shopping, transportation, schools and parks.
Improvements
-large suites (4 of the 1Br's are approx. 800 sq. ft. & the other 1Br's are approx. 750 sq. ft.)
-all units are corner suites
-garden level 2Br's have large patios
-all units hardwood floors (some have carpets overtop)
-new double glazed windows
-5 parking stalls
-building exterior just repainted
-laundry leased from Coinamatic (1 washer/dryer)
-pitched asphalt shingle roof replaced approx. 1995
-plumbing replaced approx. 1995
-all appliances, flooring, countertops, cabinets, kitchens, bathrooms all updated (not older than 10 yrs).
Rent Roll & Statements
Rents are approx. 40% below market for three units based on recent rentals in the area including the subject property (a 1-Br was just rented for $1050/month). All tenants rented month-to-month.
For current rent roll and statement, as well as a proforma showing projected income & expenses, please download PDF file above.
Tenancy
Tenants pay for own electric heat.
|
 |
Built in 1955, Junette Apartments is a 10 unit three storey frame apartment building in outstanding condition located in Vancouver's popular South Granville district. Great suite mix. Large suites. There is a significant upside in rent levels. Tenants pay own electric heat.
| Civic
Address: |
1026 West 13th Avenue, Vancouver |
| Legal
Description: |
Lot 8 BLK 435 DL 526 LD 36 PL 1276
|
| PID: |
012-613-312 |
| Lot
Size: |
50' x 125'
|
| Zoning: |
RM-3
|
|
Assessment
(2005):
|
Land: |
|
$610,000.00 |
Building:
|
$723,000.00
|
Total: |
|
$1,333,000.00 |
|
| Taxes
2005: |
$7,895.97
|
| Age: |
1955
|
Income
and Expense:
Ann. as of Dec/05 |
|
Effective Gross
|
$119,280
|
|
Current Expenses
|
$33,397
|
|
NOI
|
$85,883
|
|
| Suites: |
10 Units |
| Financing: |
Treat as clear title. |
| GRM: |
15 |
| CAP: |
4.8% |
| $/Unit: |
$179,500.00 |
| Asking
Price: |
$1,795,000.00 |
| Selling Price: |
$1,768,000.00 |
| Sale Date: |
November 3, 2005 |
| Suite
Mix |
|
8-1Br
2-2Br
|
|
10 Total Suites
|
|
