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7915 Knight Street

7915 Knight Street, Vancouver
Multi-family

$1,820,000


Summary

Price
$1,895,000
GIM
16.8
Property taxes
$7,109.07
Units
12
Year Built
1950
Operating Cost
$51,597
Cap Rate
3.1%
Zoning
RM-2
Price/Unit
$157,917
PID
002-960-966
Stories
3
Sale Price
$1,820,000
Sale Date
11/3/2014

Property Description

12 Units

The subject property is a clean and well maintained 12-suite three storey wood frame rental apartment building located at the foot of the Knight Street Bridge in Southeast Vancouver.

Location

The subject is located on the southwest corner of Knight Street and 63rd Avenue in Southeast Vancouver, at the foot of Knight Street Bridge. The location offers convenient access to Richmond via the bridge and Burnaby eastbound on SE Marine Drive.

Features

  • Clean and well maintained rental property featuring 12 suites
  • Suite mix: 1 bachelor; 9 one-bedroom; 3 two-bedroom
  • Laundry room: 1 washer/1 dryer (leased)
  • Suites feature hardwood floors
  • Parking: 6 covered & 7 surface stalls at rear
  • Stucco and vinyl exterior
  • Heavily treed out front and side yards
  • New torch-on roof (2009)
  • Furnace replacement (approx. 10 years old)
  • Ongoing piping replacement and appliance renewal (approx. 90% replaced over last 10 years)
  • Oil tank removal/Stage 1 Environmental Report underway

For a current rent roll & expense statement, click here.

Legal Description

Lot 4 Block 3 District Lot 200 Plan 9008

Financial Summary

Treat as clear title.

Assessment 2013

Land: $1,054,000
Building: $962,000
Total: $2,016,000

Income and Expenses

Gross Income:$112,140

Vacancy 0.5%: (561)
Effective Gross: $111,579
Operating Expenses: (51,597)
Net Operating Income: $59,982

Suite Mix

No. Units Avg. Rent
Bachelor 1 $640
One Bedroom 8 $753
Two Bedroom 3 $832

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