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 SEE
MAP
Improvements
Built in 1972, the subject property features an attractive brick and stucco exterior with balconies/patios, underground parking, elevator and in-suite storage for each suite. Tenants pay for electric heat.
Recent Upgrades
-Most stoves & fridges replaced last 6 years
-Roof repairs, $20,000 spent 10 years ago
-New intercom
-Piping renewal, $120,000 spent in 1999
-New domestic hot water boiler
-Balconies replaced
-Elevator motor rebuilt, $40,000 spent
-Carpets replaced as needed.
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The Royal is a 3 storey, 41 suite apartment building located in the heart of Kitsilano, minutes from shopping and Jericho Beach.
| Civic
Address: |
1848 W. 3rd Avenue, Vancouver |
| Legal
Description: |
Lot E & 10 + 11 + W 1/2 12 BLK 237 DL 527 DIST 36 PL 590
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| PID: |
015-260-828 |
| Lot
Size: |
162.5 ft. X 120 ft.
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| Zoning: |
RM-4
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Assessment
(2004):
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Land: |
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$2,530,000.00 |
Building:
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$1,762,000.00
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Total: |
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$4,292,000.00 |
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| Taxes
2003: |
$26,577.00
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| Age: |
1972
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Income
and Expense:
2003 Statement |
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Gross Income
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$360,000
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Effective Gross
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$360,000
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Expenses (32.8%)
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$118,377
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NOI
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$241,623
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| Suites: |
41 Units |
| Financing: |
Clear Title. |
| $/Unit: |
$131,707.00 |
| Asking
Price: |
$5,400,000.00 |
| Selling Price: |
$5,275,000.00 |
| Sale Date: |
June 29, 2004 |
| Suite
Mix |
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12-Bach
28-1Br
1-2Br
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41 Total Suites
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