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Villa Adnor

2358 York Avenue, Vancouver
Multi-family

$3,938,000


Summary

Price
$4,000,000
GIM
25.2
Lot Size
6,000 SF
Units
11
Year Built
1959
Cap Rate
2.6%
Zoning
RM-4
Price/Unit
$363,636
PID
015-097-498
Stories
3
Sale Price
$3,938,000
Sale Date
4/26/2014

Property Description

Prime Kitsilano! Villa Adnor is a well maintained three storey plus penthouse apartment building located in Vancouver’s extremely popular Kitsilano neighbourhood. Only one block south of Kits Beach, the property features 11 suites including 2 penthouse units with sweeping views of English Bay and the North Shore Mountains. Ideal for owner-occupier. Rents significantly below market.

Villa Adnor is situated mid block on the south side of York Avenue between Vine and Balsam Streets in prime Kitsilano. Only one block south of Cornwall Avenue, the waterfront “main drag” which runs parallel to popular Kitsilano Beach coastline and offers stunning views of English bay, the West End’s skyline and the North Shore Mountains. Within walking distance is Kits Beach Pool and Park, a seaside walkway that overlooks the Burrard Inlet, Kitsilano Yacht Club and Point Grey Private Hospital. Various, restaurants, cafés, amenities and bus transportation are close by along Cornwall and Yew Street—only one block in either direction.

Location

Kitsilano, especially north of 4th Avenue, is considered one of the most desirable locations in the City of Vancouver to live, with its numerous beaches, parks, recreation centres, retail amenities, movie theatre (5th & Burrard), cafes and its close proximity to Downtown Vancouver and UBC.

Features

  • Wood-frame building with stucco and wood trim exterior
  • Gorgeous sweeping views from penthouse units with oversized patio decks
  • Prime north-of-4th Avenue Kitsilano location
  • Nine of the eleven suites have balconies
  • Beautifully landscaped
  • Hardwood in all suites
  • One washer/one dryer – leased
  • Surface parking for 5 cars
  • Full size locker storage for tenants
  • Gas-fired boiler (approx 2000)
  • Roof (at least 10 years old)
  • Hallway carpets (approx 2007)
  • Ongoing program of maintenance to suites and common areas with many upgrades over the years

 

Legal Description

Lot 5 Block 202 District Lot 526 Plan 848

 

Financial Summary

Financing: Treat as clear title

Assessment 2012

Land: $1,964,000
Building: $944,000
Total: $2,908,000

Income and Expenses

Gross Income: $159,003
Vacancy: (398)
Effective Gross: $158,635
Operating Expenses: (52,909)
Net Operating Income: $105,726

 

Notes

For a current rent roll and 12 month expense statement, click here

 

Suite Mix

No. Units
One Bedroom 9
Penthouse(2 Br) 2

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