Goodman Report: Listings - 15088 Thrift Avenue, White Rock

Location Features FINANCIAL SUMMARY

The subject property is located on the south-west corner of Thrift Avenue and Foster Street in White Rock, BC. Exceptionally situated a few minutes’ walk to the beach and only a couple blocks west of Johnston Road, a main artery offering various amenities, restaurants, shopping and bus transportation. The Semiahoo Shopping Centre is only one block to the north, while Peace Arch Hospital is also in close proximty. This community is one of the most desirable and affluent areas in the Lower Mainland with miles of beaches, spectacular views, beautiful parks and now one of the most innovative open air shopping/lifestyle centres in Western Canada.

Exceptionally well-maintained with pride of ownership
19 year-old strata-titled building with great suite mix

Suites feature gas fireplaces, patios or balconies
Suites have in-suite washer/dryer & dishwashers
Elevator service

Secured underground parking for 9 cars (sprinklered) plus two extra stalls

Lush landscaping

All tenants have lockers
In-floor radiant heating in suites with thermostat
Top notch Viessmann boiler (approx. 10 years old)
Roof is EPDM with parapet and cedar shake overhang
Low maintenance alum soffits
All closets have “organizers”
Extensive capital improvement program--for a suite by suite breakdown of the work carried out in each suite, please click here.
Views from top floor (and 270 degree unobstructed ocean views from roof)
Common walls have "sound bars" that seperate dry wall from studs, thereby eliminating noise transfer between suites

Financing

Treat as clear title.

Assessment 2011

Land
$808,200
Building
$1,296,800
Total
$2,105,000

Taxes 2011

$15,272.16

Income and Expenses

Gross Income
$125,916
Vacancy
(630)
Effective Gross
$125,286
Operating Expenses
(46,707)
Net Operating Income
$78,579

Notes

Income is annualized as of January 2012. For a current rent roll and a detailed expense statement, click here.

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15088 Thrift Avenue
White Rock

Summary

Suite Mix

Attachments

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