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La Vonne Apartments 989 West 20th Avenue , BC

OPPORTUNITY HIGHLIGHTS » Huge Rental Upside » Seven garages with income potential » Below market rents

Dan Schulz Edward Chiu Personal Real Estate Corporation 778.999.5758 604.714.4755 Dan Edward.Chiu @bcapartmentinsider.com @macdonaldcommercial.com 989 West 20th Avenue, Vancouver, BC

DOWNTOWN VANCOUVER KITS GRANVILLE POINT ISLAND

SUBJECT Cambie St MT PLEASANT

W King Edward Ave

Oak St

SOUTH CAMBIE Opportunity Property Info To acquire a 13-suite apartment building located in South Cambie nieghbourhood in Vancouver. Below Site 8,052 sq. ft. (66’ x 122’) market rents allow an opportunity for growth. Zoning RM-3A Location Total Assessed Value $5,365,000 The Property is located just off the corner of West 20th Avenue and in the South Cambie neighbourhood on the West Side of Vancouver. Nearby Property Taxes $15,960.20 (2020) amenities include Emily Carr Elementary School, Vancouver General Hospital, BC Woman and Children’s Estimated Net Income $125,996 Hospital, Heather Park and Douglas Park. Improvements The site is improved with a 67 year old wood frame apartment building with 13 units (one unauthorized). The total livable area is approximately 12,462 SF and the suite mix is comprised of 3 – Bachelor, 6 – One Bedroom and 3 – Two Bedroom units with 1 non-conforming unit. The building does not feature any balconies and there are four surface parking stalls with additional covered parking stalls.

Dan Schulz Edward Chiu Personal Real Estate Corporation 778.999.5758 604.714.4755 Dan Edward.Chiu @bcapartmentinsider.com @macdonaldcommercial.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. 989 West 20th Avenue, Vancouver, BC

13 Suites SUITE MIX Bachelors 4 One bedrooms 6 Two bedrooms 3

Asking Price Cap Rate Price Per Unit $5,400,000 $5,850,000 2.33% $415,385

Dan Schulz Edward Chiu Personal Real Estate Corporation 778.999.5758 604.714.4755 Although this information has been received from sources deemed reliable, we assume no responsibility for Dan Edward.Chiu its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or @bcapartmentinsider.com @macdonaldcommercial.com terms and withdrawal without notice. 989 West 20th Avenue, Vancouver, BC

Rent Roll La Vonne Apartments

MONTHLY POTENTIAL POTENTIAL % TOTAL SUITE TYPE SIZE RENT RENT ANNUAL RENT ANNUAL RENT REVENUE

99 Bachelor 475 $700 $1,100 $8,400 $13,200 4.72% 100 2-Bdrm 1100 $1,500 $2,200 $18,000 $26,400 10.12% 101 1-Bdrm 750 $1,030 $1,800 $12,360 $21,600 6.95% 102 1-Bdrm 750 $1,255 $1,800 $15,060 $21,600 8.47% 103 Bachelor 575 $938 $1,100 $11,256 $13,200 6.33% 104 Bachelor 550 $1,125 $1,100 $13,500 $13,200 7.59% 105 1-Bdrm 750 $1,016 $1,800 $12,192 $21,600 6.86% 106 1-Bdrm 750 $1,016 $1,800 $12,192 $21,600 6.86% 201 2-Bdrm 1100 $1,490 $2,200 $17,880 $26,400 10.06% 202 1-Bdrm 750 $1,022 $1,800 $12,264 $21,600 6.90% 204 Bachelor 500 $1,100 $1,100 $13,200 $13,200 7.42% 205 2-Bdrm 1100 $1,450 $2,200 $17,400 $26,400 9.79% 206 1-Bdrm 700 $1,175 $1,800 $14,100 $21,600 7.93% TOTAL 13 SUITES 9,850 $14,817 $21,800 $177,804 $261,600 100%

1 Garage $100 $1,200 2 Garage $200 $2,400 3 Garage $90 $1,080 4 Garage $100 $1,200 5 Garage $100 $1,200 6 Garage $100 $1,200 7 Garage $100 $1,200 TOTAL 7 Garages $790 $9,480

Dan Schulz Edward Chiu Personal Real Estate Corporation 778.999.5758 604.714.4755 Although this information has been received from sources deemed reliable, we assume no responsibility for Dan Edward.Chiu its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or @bcapartmentinsider.com @macdonaldcommercial.com terms and withdrawal without notice. 989 West 20th Avenue, Vancouver, BC

Proforma Income Statement | for the year ended December 31, 2020 La Vonne Apartments

GROSS INCOME ACTUAL POTENTIAL Gross Rental $177,804 $261,600 Garage Income $9,480 $9,480 Laundry Income $1,418 $1,418 Other Income $1,236 $1,236 Total Gross Income $189,938 $261,600

EXPENSES Operating Expenses 2019 Electricity...... $1,296 Fire Prevention...... $1,457 Gas...... $6,894 Insurance...... $9,028 Landscaping...... $750 Laundry Lease...... $892 Leasing Commissions1...... $4,161 Licences/Permits...... $190 Management...... $8,742 Misc Expenses...... $313 Property Tax (2020)...... $15,960 Pest Control...... $1,325 Repairs & Maintenance...... $6,796 Water & Sewer...... $3,046 Waste Removal...... $3,092 Total Expenses $63,942 34%

NET OPERATING INCOME $125,996

1. Leasing commissions are currently charged in addition to management fees

ASKING PRICE CAP VALUE PRICE PER UNIT 2.33% $5,400,000 $415,385

Exclusively Dan Schulz Edward Chiu Represented By Personal Real Estate Corporation 778.999.5758 604.714.4755 Although this information has been received from sources deemed reliable, we assume no responsibility for Dan Edward.Chiu its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or @bcapartmentinsider.com @macdonaldcommercial.com terms and withdrawal without notice.