2629 West 4Th Avenue, Vancouver, BC 10-Suite Apartment

FOR SALE ‘North of Fourth’ 10-Suite Apartment Building in Prime Kitsilano Neighbourhood

2629 West 4th Avenue, Vancouver, BC

Dan Schulz Carl Chen 陳學偉 Personal Real Estate Corporation Personal Real Estate Corporation 778.999.5758 778.998.8194 Dan@ Carl.Chen bcapartmentinsider.com @macdonaldcommercial.com THE OFFERING CIVIC ADDRESS 100% freehold interest in a prime 10-suite apartment building in Vancouver’s prestigious Kitsilano area within the highly- 2629 W. 4th Ave, Vancouver, B.C. V6K 1P8 coveted “North of Fourth Avenue” neighbourhood LEGAL DESCRIPTION LOCATION LOT 7, BLOCK 10, PLAN VAP774, PART W1/2, DISTRICT LOT 192, NEW The subject property is located on the north side of West 4th WESTMINSTER LAND DISTRICT Avenue, mid-block between Trafalgar Street and Stephens Street, in the heart of Kitsilano. PID 015-125-009 The neighbourhood has a young, active population and is known for its endless beaches, spectacular mountain views, LOT SIZE and convenient proximity to shopping and restaurants 5,640 sq.ft. (50’ x 133’) along the popular Fourth Avenue retail corridor. This area is considered by many to be one of the best neighbourhoods in Vancouver and is sure to experience continued growth and ZONING demand. C--2

The Kitsilano District is also one of the most sought-after FSR multi-residential areas in British Columbia and only a short 2.5 five minute drive from the Downtown Vancouver core. Kitsilano is a very unique neighbrouhood due to its ability to offer the residents immediate access to the city’s main YEAR BUILT business district, while at the same time allowing residents 1954 to live without the noise and congestion of a downtown core.

The property is centrally located in Vancouver with many BUILDING STOREYS local amenities and destinations nearby. To the west: UBC. 2.5 To the the east: the Cambie Corridor, East Van, other Lower Mainland communities. To the north: Downtown, the North Shore, Island ferries & Whistler. To the south: Vancouver PARKING STALLS International Airport and the US border. 2.5

This prime Kitsilano location along West 4th’s bustling and NO. OF SUITES growing commercial corridor will ensure this property’s 10 capital appreciation for years to come.

Dan Schulz Carl Chen 陳學偉 Personal Real Estate Corporation Personal Real Estate Corporation 778.999.5758 778.998.8194 Dan@ Carl.Chen 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. 2629 W. 4th Avenue, Vancouver, BC

KITSILANO

BEACH

Vine St St Vine Vine

SUBJECT Trafalgar St Larch St Prime 10-Suite Apartment Building West 4th Ave 5 Minutes walking distance to Kitsilano Beach

IMPROVEMENTS NEARBY AMENITIES

• Large Suites • West 4th Shopping Corridor • 3 of 10 Sites recently renovated • Whole Foods Grocery, Safeway, Starbucks and many specialty food shops and independent cafes • Kitsilano Beach The suite breakdown is as follows: • World class restaurants and boutiques • Granville Island Public Market 6 x 1-bedrooms • Broadway shopping corridor • Vancouver Public Library (Kitsilano) 4 x 2-bedrooms • Jericho Beach and Spanish Banks parks • UBC • Downtown Price per Unit $700,000.00

Cap Rate 1.04% Dan Schulz Carl Chen 陳學偉 PRICE Personal Real Estate Corporation Personal Real Estate Corporation 778.999.5758 778.998.8194 Dan@ Carl.Chen $5,888,000.00 bcapartmentinsider.com @macdonaldcommercial.com

Rent Roll | September 2019

SUITE TYPE CURRENT ANNUAL RENT POTENTIAL POTENTIAL % TOTAL MONTHLY RENT (Current Rates) RENT ANNUAL RENT REVENUE A 2 bedroom $1,220 $14,640 $1,900 $22,800 9.8% B 2 bedroom $1,530 $18,360 $2,200 $26,400 12.3% 1 2 bedroom $1,030 $12,360 $1,900 $22,800 8.3% 2 1 bedroom $1,476 $17,712 $2,200 $26,400 11.9% 3 1 bedroom $1,250 $15,000 $1,900 $22,800 10.1% 4 1 bedroom $1,200 $14,400 $1,900 $22,800 9.7% 5 2 bedroom $1,019 $12,228 $1,900 $22,800 8.2% 6 1 bedroom $1,475 $17,700 $2,200 $26,400 11.9% 7 1 bedroom $1,100 $13,200 $1,900 $22,800 8.9% 8 1 bedroom $1,104 $13,248 $1,900 $22,800 8.9% TOTAL 10 SUITES $12,404 $148,848 $19,900 $238,800 100%

Dan Schulz Carl Chen 陳學偉 Personal Real Estate Corporation Personal Real Estate Corporation 778.999.5758 778.998.8194 Dan@ Carl.Chen bcapartmentinsider.com @macdonaldcommercial.com

Proforma Income Statement For the Year Ending December 31, 2019

ACTUAL POTENTIAL INCOME INCOME Gross Rent...... $148,848 $228,000 Laundry Income ...... $915 $1,124 Total Gross Income $149,763 $229,124

EXPENSES

Operating Expenses Cablevision...... $3,622 Caretaker (wage and benefits) ...... $7,171 Cleaning and Decorating...... $3,660 Garbage removal...... $4,625 Insurance...... $5,129 Light / Heat / Power...... $5,063 Property Taxes...... $14,695 Repairs / Maintenance...... $14,400 Water / Sewer Charges...... $4,720 Property Management ...... $14,224

TOTAL EXPENSES $77,308 52% $78,108 34%

NET OPERATING INCOME (NOI) $72,455 $151,016

Dan Schulz Carl Chen 陳學偉 Personal Real Estate Corporation Personal Real Estate Corporation 778.999.5758 778.998.8194 Dan@ Carl.Chen bcapartmentinsider.com @macdonaldcommercial.com