For Sale - JLL Multifamily BC · 2020-03-17 · Rent Roll Summary Unit Type Monthly Rent 1 Bachelor $987 2 Bachelor $923 3 Bachelor $996 4 1 Bedroom $1,240 21 1 Bedroom $1,150 22

Jones Lang LaSalle Real Estate Services Inc. | 2150 - 510 W Georgia Street | Vancouver, BC V6B 0M3 | www.jllmultifamilybc.com©2020 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.E. & O. E. Jones Lang LaSalle Real Estate Services, Inc. Real Estate Brokerage

*Personal Real Estate Corporation

Patrick McEvay*JLL Senior Vice President +1 604 789 0720 [email protected]

James Blair*JLL Senior Vice President +1 604 790 7089 [email protected]

Christine Leung*TRG Commercial Broker+1 604 664 [email protected]

The Hartethorne | 1191 West 12th Avenue, Vancouver

For Sale

The Hartethorne is a 10 unit multifamily building located within walking distance to Granville Street’s high end shopping, transportation, Vancouver General Hospital and restaurants. This character apartment building features unique suites lending to a quintessential Fairview experience.

The building has a covered entryway with individual door bells for each unit. There is a laundry room with one washer and dryer which are owned by the building, as well as storage lockers and a bike storage area. There is the potential to convert the large storage and laundry room into an additional rental unit.

Many of the units feature timeless elements such as original hardwood floors, coffered ceilings, unique stained glass windows, and classical fireplaces with elaborate mouldings.

Each unit is individually metered with its own breaker panel and hardwired heat and smoke detectors.

Address 1191 West 12th AvenueVancouver, BC

PID 014-684-616

10 Units 6 Bachelor & 4 One Bedroom

Zoning RM-3

Site Size 6,250 sf (50 x 125)

Year Built 1906

Levels Three Storey

Construction Woodframe

Laundry Coin Operated Washer & Dryer

Parking 6 surface stalls

List Price $4,188,000

Price per Unit $418,800

Cap Rate 2.23%

GRM 31.60 x

The Opportunity

10 unit Apartment Building

South Granville

Rent Roll Summary

Unit Type Monthly Rent

1 Bachelor $987

2 Bachelor $923

3 Bachelor $996

4 1 Bedroom $1,240

21 1 Bedroom $1,150

22 Bachelor $1,000

23 1 Bedroom $1,105

31 Bachelor $1,100

32 Bachelor $1,000

101 1 Bedroom $1,150

TOTAL 10 UNITS $10,651

Financial StatementYearly Yearly/

Unit % of EGR

REVENUE

Rental Income $127,818 $12,782

Laundry 1 $1,800 $180

Parking 2 $3,600 $360Potential Gross Income $133,218 $13,322

Less: Vacancy (0.50%) $666 $67

EFFECTIVE GROSS REVENUE $132,551 $13,255

EXPENSES

Property Taxes $9,730 $973 7.34%

Insurance $10,031 $1,003 7.57%

Utilities $8,370 $837 6.31%

Business License $740 $74 0.56%

Fire Alarm $1,203 $120 0.91%

Janitorial $2,000 $200 1.51%

Repair & Maintenance $7,040 $704 5.31%

TOTAL EXPENSES $39,114 $3,911 29.51%

TOTAL NET INCOME $93,437

[1] Laundry estimated at $15/unit/month[2] Parking estimated at $50/stall/month (6 stalls)

Fairview• Fairview is nestled between the Granville and

Cambie bridges just outside of Vancouver’s Downtown Core

• This neighbourhood is home to world famous Granville Island, a quick 20 minute walk from the Property, which features a public market, local artisan shops, restaurants, and entertainment

• The Property is located three blocks from the high end shopping district of South Granville which is lined with some of Vancouver’s most sought after retailers

• In closed proximity to Vancouver General Hospital and the surrounding medical district which is one of Vancouver’s job hubs

• The Property is located 600 meters from the future Oak Street Skytrain Station which will connect to the Broadway Line Extension

96Walker’s Paradise

96/100 Walk Score

False Creek

11

1

West Broadw

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West Broadw

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Ave

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Wes

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Ave

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1 Granville Island 7 Heirloon Vegetarian2 Indigo 8 Shoppers Drug Mart3 Pottery Barn 9 Cactus Club Cafe4 Vij’s Rangoli 10 Earls5 Jamjar 11 Storm’s Crow6 Hill’s 12 No Frills

43 5

6

8

10

Granville StreetGranville Street

12

AMEN

ITIE

SBORADWAY SKYTRAIN EXENTSION

2

9

Transit Times30 mins by Bus | UBC

20 mins by Car | YVR

25 mins by Bus | Downtown Core

16 mins by Foot | Granville Island

THE HARTETHORNE

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