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 SEE
MAP
 Rent Roll & Statement
Location
Located at East 6th and St. Catherines street, Julie Apartments will soon be taking advantage of the transformation of the Mount Pleasant area. This local is quickly being transformed by gentrification with the advent of the old Finning site, now converted into three university campuses (UBC, SFU & Emily Carr). Furthermore, a new skytrain station will be coming soon, and the possible relocation of St. Paul's Hospital.
Improvements
The subject property is a three storey frame building with balconies that have been beautifully restored. There are some views from suites facing Northeast. Overall, the building is very well maintained, with ongoing suite upgrades in areas of appliances, carpeting, painting, bathroom, etc. There are 8 parking stalls around back that are not being charged to the tenants.
Rent Roll & Statements
Rents are approximately 7% under market for the one bedrooms, and approx. 20% under market for the bachelors. For financial details, please download pdf file above.
Open to offers.
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Julie Apartments is an 11 suite walk-up apartment building in the Mount Pleasant area of East Vancouver. It is in pristine condition and conveniently located close to transit and China Creek North Park.
| Civic
Address: |
840 East 6th Avenue, Vancouver |
| Legal
Description: |
Lot 6, Blk 98, DL 264A, Plans 449 & 1771
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| PID: |
015-304-078 |
| Lot
Size: |
60' x 122'
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| Zoning: |
RM-4
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Assessment
(2003):
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Land: |
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$457,000.00 |
Building:
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$253,000.00
|
Total: |
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$710,000.00 |
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| Taxes
2003: |
$5,423.45
|
| Age: |
1966
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Income
and Expense:
Annualized as of Jan 04 |
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Gross Income
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$75,384
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Less Vacancy 2%
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($1,507)
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Effective Gross
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$73,876
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Normalized expenses
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($27,500)
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NOI
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$46,377
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| Suites: |
11 Units |
| Financing: |
Treat as clear title. |
| GRM: |
12.72 |
| CAP: |
4.8% |
| $/Unit: |
$87,181.00 |
| Asking
Price: |
$959,000.00 |
| Selling Price: |
$900,000.00 |
| Sale Date: |
May 25, 2004 |
| Suite
Mix |
|
4-bachelors
7-one bedrooms
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11 Total Suites
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