Sold $4,350,000.00 - Apartment Building

SOLD PRICE: $4,350,000

SOLD DATE: June 15, 2016

Location

The subject property is considered a walker’s paradise. This location is steps away from Vancouver’s vibrant cultural district known as South Granville, offering countless fashion boutiques, renowned home decor retailers, fast-growing residential areas and more art galleries per block than any other neighborhood in Vancouver. A few blocks to the north is the Broadway Corridor, a professional hub offering yet more dining and shopping options, as well as many convenient service companies.

The City of Vancouver is developing plans to incorporate a new SkyTrain rapid transit line that will form an East to West Connector along Broadway from UBC to Commercial Drive. This could increase transit frequency in the area and residential density for future holdings potential.

Description
Martin apartments is a three-storey, wood-frame, walk up building that has been kept in excellent shape. The building is situated on a 6,250 square foot lot. Each unit is outfitted with authentic hardwood floors. The suites have been updated as needed. Heat is serviced by an original boiler that provides hot water heating throughout.

Property Highlights

  • Newer double paned windows
  • Central location close to transit
  • A few blocks from Broadway Street
Property Details
Number of Units 11
Price Per Door $395,454
Capitalization Rate 2.2 %
Net Operating Income $95,992
Lot Size 6,250 square feet
Zoning RM-3
Legal Description PL VAP1949 LT 4 BLK 409 DL 526 LD 36
Suite Mix
Bachelor 11
Total 11
Property Information Package
Property Map

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