6 ROWHOMES | RENTAL UNITS | 3.78% CAP RATE
4 LEVEL UNITS | PRIME LOCATION | DEV POTENTIAL | 88′ x 32′ LOT
PRICED SHARP —–> $4,399,900
Fresh on the market is this unique 6 unit townhome complex between Clark and Commercial drive. This is an excellent opportunity to purchase land in East Van that is producing a steady stream of income. Each unit is 4 levels with either 3 or 4 bedrooms. Each one rented out for an average of $2700 per month (2018). More numbers below but for now check out the teaser video we did for the furthest East unit – 1430.
THE NUMBERS (2018) Year end = July 31st
Income/annum : $192,954.00 • Operating Expenses: $27,754.00 • Net Op. Income:$165,000.00 • Cap Rate 3.78%
1430 OWNER’s SUITE
- Renovated kitchen has In floor heating (Ditra Heat) with natural black slate floors
- Caesar stone counter and island top
- Refinished original Douglas fir floors on the third and fourth floors.
- Wood used in the floors was originally from the area around Commercial Drive and milled a few blocks away.
- Electric heaters on third and fourth floors.
- Gas bill averages $16.00 / Hydro bill averages $105.00
- Unfinished garden level with separate entrance/ high ceiling used as a workshop and storage of tools and material for repairs of the property. .
- New double pane argon E windows throughout the townhouse (2017-2018)
Next to Britannia Secondary School and only a few blocks from Commercial Drive, 1430-1420 Napier is situated in a super convenient pocket of East Van. Walking distance to a few of our favourite spots which include; Bier Craft , Cafe Du soleil and HAVANA. Click the MAPs for more details from google.