KINGSWAY INVESTMENT PROPERTY – 6 STRATA TITLED UNITS

3515 KINGSWAY - VANCOUVER, B.C.
FOR SALE
$ 3,998,000

SUMMARY

    • Excellent condition
    • PID: 028-720-016
    • Year built: 2011
    • Zoning: C-2
    • Lot size: 3,531
    • Lot Dimensions: 33 Ft x 107 Ft
    • Building Area: 4,932
    • Net Income:  $113,740
    • Cap Rate:  2.8%
    • 6 strata titled units.

Overview

This property was developed by the existing owner in 2011 and is in impeccable condition.  The building has very high exposure prominently located on the north side of Kingsway just west of Joyce Street with over 80,000 cars passing a day.    The immediate shopping area includes the CIBC, Jambo Grill, 7-Eleven and London Drugs. The property is improved with a 3 storey wood frame building with mason block outer walls and corrugated aluminum siding.  The building looks and feels like new.  The ground floor has 1,620 square feet of retail space with one retail tenant anchored by a music school. The second floor has 4 two bedroom units with North shore views.  There are four underground parking stalls for the residential tenants and one commercial parking stall in the rear. The net income is $113,740 per annum with room to increase. The building is minutes away from Joyce Skytrain station and across the street from an elementary school.
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