Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness. Selling Apartment Buildings as if they were our own! RE/MAX Bill Goold Realty www.BillGooldRealty.com 410 – North Tower , 650 West 41 st Avenue Vancouver, BC V5Z 2M9 LISTED PRICE $2,500,000 CAPITALIZE ON A UNIQUE OPPORTUNITY TO OWN AN EXCEPTIONALLY WELL-MAINTAINED 16-UNIT MULTI-FAMILY ASSET IN THE GROWING LADNER COMMUNITY David Venance | Bill Goold | Ray Townsend | Patrick McEvay | James Blair | Margaret Zheng 4630 Evergreen Lane Ladner, BC FOR SALE 604-264-5752 | [email protected]CONTACT DAVID VENANCE FOR FURTHER DETAILS David Venance Personal Real Estate Corporation
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Each office independently owned and operated. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness.
Selling Apartment Buildings as if they were our own!
RE/MAX Bill Goold Realtywww.BillGooldRealty.com
410 – North Tower , 650 West 41st Avenue Vancouver, BC V5Z 2M9
LISTED PRICE
$2,500,000
CAPITALIZE ON A UNIQUE OPPORTUNITY TO OWN AN EXCEPTIONALLY WELL-MAINTAINED 16-UNIT MULTI-FAMILY
ASSET IN THE GROWING LADNER COMMUNITY
David Venance | Bill Goold | Ray Townsend | Patrick McEvay | James Blair | Margaret Zheng
CONTACT DAVID VENANCE FOR FURTHER DETAILSDavid Venance Personal Real Estate Corporation
4630 Evergreen Lane, LadnerPROPERTY SUMMARY
THE OPPORTUNITY
Bill Goold Realty is proud to present theopportunity to acquire a 100% freehold interestin an exceptionally well-maintained rentalapartment building strategically located in thegrowing and desirable South Delta community ofLadner, BC. The offering will appeal to a diversearray of investors, but especially to thoseseeking their first multi-family acquisition giventhe truly rare and opportunistic Vendor TakeBack (“VTB”) financing option that the currentownership group will explore with qualifiedinvestors. Capitalizing on this option meansinvestors could potentially own the asset foras little as a 20% down payment, asopposed to the 40%-50% equity investmenttypically required by conventional and CMHCfinancing.
LOCATION
• Desirable family-oriented neighbourhood
• The Subject Property is situated on a large 17,000 sf lot and nestled mid-block with 110 feet of frontage on the east side of Evergreen Lane between 51st Street and Arthur Drive in the community of Ladner.
• Walking distance to Trenant Park Square Shopping Centre, which is anchored by Safeway and includes several other retailers such as London Drugs, Starbucks, RBC, and Cobs Bread.
• Other nearby tenant amenities include Memorial Park, Lions Park, Ladner Community Centre, and Ladner Leisure Centre.
• Proximity to arterial Ladner Trunk Road lends quick access to Highway 99.
CIVIC ADDRESS4630 Evergreen LaneDelta, BC V4K 2W5
NEIGHBORHOODVLD-Ladner
LEGAL DESCRIPTIONPL 44213 LT 435 DL 106 LD 36
PROPERTY IDENTIFIER007-355-017
SUITE MIX 4 One Bedroom 12 One Bedroom plus Den16 Residential suites
PARKING21 Covered Surface Stalls
BALCONIESYes
ELEVATOROne double-bottom hydraulic
ZONING RM-6 MULTIPLE FAMILY
LOT SIZE110’ x 160’ (17,587 sq.ft.)
YEAR BUILT1977
PROPERTY TAXES 2014 $10,795
ASSESSMENT 2014Land $ 1,547,000Improvements $ 482,000 Total $ 2,029,000
FINANCINGTreat as clear title. VTB option available.
David Venance | Bill Goold | Ray Townsend | Patrick McEvay | James Blair | Margaret Zheng
4630 Evergreen Lane, LadnerBUILDING DESCRIPTION
BUILDING DESCRIPTION
Built in 1977, the Subject Property is a wonderfully maintained, wood frame three (3) storey apartment building. Long-time pride of ownership is evident throughout the entire property.
At grade level is a substantial, well lit, ventilated, covered parkade housing 21 parking stalls and a secured bike storage room. In the lobby, adjacent to the common games/amenity room, is a double-bottom cylinder hydraulic elevator providing service to all three floors. Also on the main floor, next to the mechanical room, is a common laundry room which has two building-owned coin operated washers and dryers.
The building has 16 spacious suites, each with its own large, sheltered balcony providing additional living space to the tenants. The units are generous in size by today's building standards and provide ample natural light. Twelve of the units are one bedroom plus den; the remaining four are one bedroom units.
The building offers a variety of bright, efficiently designed floor plans, and the suites are consistently repainted upon tenant turnover. Upgrades to the finishes, the flooring, and replacement of the appliances are done on an 'as required' basis.
No major renovation program has been formally implemented. However, we suspect if such a value-add program were commenced on tenant turnover, the rents could be solidly increased and the return on investment considerably improved.
INVESTMENT HIGHLIGHTS
Exceptionally well managed and maintained asset by long-time owners
Attracts quality, low-maintenance tenants and very seldomly has a vacant unit
Location is excellent for tenants who need to walk to essential shopping, services, and amenities
Significant growth upside in the community and revenue upside to the rental income of the building
Opportunistic VTB financing option available to qualified investors
David Venance | Bill Goold | Ray Townsend | Patrick McEvay | James Blair | Margaret Zheng
4630 Evergreen Lane, LadnerFINANCIAL SUMMARY
David Venance | Bill Goold | Ray Townsend | Patrick McEvay | James Blair | Margaret Zheng
Net Operating Income (NOI) Stabilized NOI Projection [3]
TOTAL OPERATING EXPENSES $46,291 $2,893 30.49% $46,291 30.49%
NET INCOME OPERATING INCOME $105,526 $119,377
[1] We have estimated the laundry to be $375 / month based on historical avg.
[2] R&M is estimated to be $600 / unit / year based on historical avg.
[3] Stabilized NOI projection is based on realizing market rents upon tenant turnover and comprehensive releasing program
PURCHASE PRICE CAP RATE %
$ PER UNIT $ PER ROOM POTENTIAL YIELD POTENTIAL YIELD GROWTH
$2,500,000 4.15% $156,250 $46,000 4.78% +0.63%
4630 Evergreen Lane, LadnerMARKET OVERVIEW
Once a bustling fishing village on the southern banks of the Fraser River, the communityof Ladner, B.C. is today part of the larger municipality of Delta. Ladner is bound to thewest by the Strait of Georgia, the south by Tsawwassen, to the east by North Delta, andnorth by the Fraser River. A hub of activity for the community, Ladner Village, is hometo numerous open-air cafes and a wide range of shops and restaurants.
In recent years Ladner has experienced a boom in residential development, which hasattracted younger couples and families and boosted the population to 22,000people. Today, the community continues to grow and thrive as do the other southernjurisdictions of Delta, Surrey, Tsawwassen, and White Rock. In responding to thispopulation growth, the increase in traffic flow and the growing congestion experienced atthe George Massy Tunnel, The Ministry of Transportation and Infrastructure hasannounced that, on a size and scale similar to the 10 lane Port Mann Bridge, a newbridge across the Fraser River will be constructed starting in 2017 with completionslated for 2020. The bridge will allow for far easier and quicker access to Delta andareas south.
David Venance | Bill Goold | Ray Townsend | Patrick McEvay | James Blair | Margaret Zheng
Errands | EntertainmentBanks (TD, CIBC, BMO, RBC, etc.)Delta Post OfficeDelta Community Music SchoolSilverCity Riverport Cinemas
C86, 608, 601
David Venance | Bill Goold | Ray Townsend | Patrick McEvay | James Blair | Margaret Zheng
Walk Score Methodology: Walk Score measures the walkability of any address. For each address, Walk Score analyzeshundreds of walking routes to nearby amenities. Points are awarded based on the distance to amenities in each category.Walk scores are based out of 100. (All information courtesy of www.walkscore.com)
