755 West 70th Avenue, Vancouver

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   Rent Roll & 2003 Statement

Improvements
-Balconies/patios redone 2002
-Hardwood floors-all suites refinished except 3 units
-New hallway carpets
-Hallways painted
-Glass replaced for 8 windows
-New hot water tank 2002
-Eves painted 2003
-11 fridges/9 stoves replaced 2004
-13 lockers


Rent Roll & Statements
Please note that income includes $2400/year for laundry and $720/year for parking.

Marine Tower is a 13 suite, frame walk-up apartment building strategically located in Marpole for the proposed RAV Transit Line. Extensively renovated with spectacular views of the Fraser River.

Civic Address: 755 West 70th Avenue, Vancouver
Legal Description: Lot 9 & 10 of 22, BLK D, DL 319, 323 & 324, LD 36, PL 2628
PID: 010-534-628
Lot Size: 66' x 122.90'
Zoning: RM-3A
Assessment (2004):
Land:
   $669,000.00
Building:
 $306,000.00
Total:
   $975,000.00
Taxes 2004: $6,162.17
Age: 1950
Income and Expense:

Income annualized as of Sept. 1/04
Effective Gross
$111,480
2003 Expenses (29%)
$31,865
NOI
79,615
Suites: 13 Units
Financing: Clear Title
GRM: 12.3
CAP: 5.8%
$/Unit: $105,769.00

Asking Price: $1,375,000.00
Selling Price: $1,300,000.00
Sale Date: January 1, 2005

Suite Mix
2 Bach
9-1Br
1-1Br Penthouse
1-2Br
13 Total Suites






David Goodman 604.714.4778
Mark Goodman 604.714.4790

Macdonald Commercial Real Estate Services
301 - 1770 West 7th Avenue Vancouver BC V6J 4Y6
Phone: 604.736.5611 Fax: 604.736.7976
www.goodmanreport.com

Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.