3261 E14th Ave, Vancouver - 3 revenue streams - $100k+ annual revenue
Sale price
Price
$2,049,000.00
Regular price
Welcome to Renfrew Heights, arguably Vancouver’s most strategic location. Immediate convenience (1 block)on Grandview Highway brings the convenience of family food & shopping (Canadian Superstore/Wal-Mart), and high speed public transit at Rupert Skytrain (10 min walk). Family fun and activity across Rupert St at Falaise Park. Multiple revenue streams bring in $100k annually. For commuters, a 3 min drive gets you to Hwy #1. Amazing future value in redevelopment as this home resides in the province of BC’s legislated TOA, Tier 2, allowing up to 12-storeys of development. 5 elementary schools within a 15 min walk, and 5 secondary schools within 3km. For the investment or young family, this is the secure real estate asset you have been looking for.
Year Built – 1978
Lot Size – 4,542 sq ft 41.4x110 sq ft
Zoning – RS-1
Taxes - $5,828 (’21)
Assessed Value: $1.480M ('18)
Neighbourhood – Renfrew Heights
Fin Sq Ft - est. 2,764
Proximity to Skytrain: 341m to Rupert Skytrain Station
3 living spaces - $8,850 total monthly. $106,200 annually. $79,650 NOI (est. @ 25% expenses).
1) Bachelor (low level) – with fireplace $1,550
2) 1BR (low level) – $1,800 (Could become 2br).
3) 5BR (upper level) – 2 bath (3pc en suite & 4pc), fireplace, 2 large decks with view of mountains. $5,700 last tenants ($5,500 est current)
CAP RATE
$1.95M = 4.1%
$2.05M = 3.8%
$2.25M = 3.5%
Highlights:
- 10 min walk to Skytrain
- 2 block walk to Canadian Superstore grocery shopping
- 2 min drive to Wal-Mart Shopping
- 3 min drive to Hwy #1. Great commuting location
- 1 block walk to Falaise Park
- Lane – yes
- Tier 2 TOA – future development up to 12 storeys
