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Huntington Court
1323 West 71st Avenue
Vancouver

Apartment Building
54 Suites
SOLD $7,475,000
Huntington Court is a superb 54 unit low-rise rental apartment building in fantastic condition located on a quiet street in Vancouver's Marpole neighbourhood. Built in 1978, the property features attractive landscaping, balconies, secure underground parking, lockers, elevator, caretaker's office and an ongoing program of upgrades. Tenants pay for electric heat.
The subject property is located in Marpole on the north west corner of Hudson and West 71st Avenue. Granville Street is just 3 block to the west and Oak Street three blocks to the east, with easy access to Richmond and YVR. Conveniently situated near shopping on Granville and major bus routes (bus line across the street on Hudson).
- 54 unit, 4 storey frame building
- Balconies/patios for all suites
- Concrete skim coat on each floor (built under ARP program)
- 44 suites have in-suite storage
- Locker room and bike storage
- Large office for caretaker
- Electric heat (paid by tenants)
- 56 underground secured parking stalls
- Annunciator panel at entrance
- 3 washers/3 dryers owned by building
- Attractive landscaping and foyer
- Sprinkler system in lawns
- 2 new hot water tanks (2006 & 2001).
- New roof (2005)
- Balconies floors / membranes all repaired (2001)
- Newer appliances and flooring as required
- Elevator flooring re-tiled
Financing
Treat as clear title.
Assessment 2006
Land
$2,978,000
Building
$1,915,000
Total
$4,893,000
Taxes 2006
$27,027.76
Income and Expenses
Gross Income
$495,624
Less 1.25% Vacancy Rate
(6,195)
Effective Gross
$489,429
Less 2005 Expenses ($2,681 /unit)
(144,754)
Net Operating Income
$344,675
Notes
Income annualized as of October 2006.

For rent roll and income & expense statement, click here.
David Goodman
david@goodmanreport.com
604 714 4778
Mark Goodman
mark@goodmanreport.com
604 714 4790
HQ Commercial
320-1385 West 8th Ave. Vancouver, BC V6H 3V9
Fax: 604 608 9455
www.goodmanreport.com
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

Summary

Price$7,750,000
Units54
Price/Unit$143,518
Cap Rate4.5%
GIM15.6
Year Built1978
Lot Size200.04' x 129.96'
ZoningRM-3A
PID007-328-320
Legal DescriptionLot 1 Blk 16 DL 318 LD 36 PL 16995
Sale Price$7,475,000
Sale Date01/01/2007

Suite Mix

No. Units
Bachelor7 
One Bedroom42 
Two Bedroom5 

Attachments

Site Plan (249.2 KB)Rent Roll and Statement (116.6 KB)
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