The subject property is a mixed-use two storey commercial/residential building located on Commercial Street in the Cedar Cottage neighbourhood of East Vancouver. The building was recently totally rebuilt and is comprised of 6 units; two commercial units on the ground floor and 4 residential suites on both the ground and second floors.
The subject is located in East Vancouver on the west side of Commercial Street, between E. 18th and E. 20th Avenue, half a block south of Vancouver’s popular Commercial Drive corridor. Centrally located, a few minutes walk to Trout Lake, elementary and high schools, and the main traffic arteries of Kingsway, Knight Street and Nanaimo Street.
The Drive has a distinct European flavour that you can’t find anywhere else in the city. Sidewalk cafes, small boutiques, bakery and pastry shops, all mingle with the regular types of businesses such as banks, grocery stores, and hardware stores. The area is well serviced by public transit with both bus and Skytrain station nearby. With an increasing population base in the neighborhood, the area has grown to be a vibrant and desirable district.
- Unit mix of 4 residential suites (2 Bach; 2-2Br) and two commercial units
- The two bachelor units are fully and semi-furnished
- Totally renovated in 2012-13 âdown to the studsâ. Upgrades include piping, electrical, floors, kitchen, bathrooms, windows, roof, fire safety system, appliances, vinyl exterior, new paving at rear
The front exterior wall was stripped and rebuilt with new insulation and new hardi-plank siding
- The rear exterior wall had wood siding which was in good condition; Seller added completely new vinyl siding on top of the wood siding. The interior walls were stripped and new insulation was added and completely new drywall. Insulation was also added and blown into the attic
- Commercial units are fully alarmed
- Second floor residential units feature covered patio deck at rear
- All residential suites feature electric baseboard heatâpaid by tenants
- All residential suites have washer/dryer and hot water tanks
- Stage 1 Environmental Report available
Download rent roll and expense statement, clicking here.
Lot 50 District Lot 751 Plan 1201
Treat as clear title.
Income and Expenses
|Net Operating Income
||Avg. sq. ft.
||400 – 600
||$800 – $900
||$1,475 – $1,550
||300 – 430
||$995 – $1,500