The Hartethorne | 1191 West 12th Avenue, Vancouver
For Sale
Rent Roll Summary
Unit Type Monthly Rent
1 Bachelor $987
2 Bachelor $923
3 Bachelor $996
4 1 Bedroom $1,240
21 1 Bedroom $1,150
22 Bachelor $1,400
23 1 Bedroom $1,105
31 Bachelor $1,052
32 Bachelor $935
101 1 Bedroom $1,150
TOTAL 10 UNITS $10,938
The Hartethorne is a 10 unit multifamily building located within walking distance to Granville Street’s high end shopping, transportation, Vancouver General Hospital and restaurants. This character apartment building features unique suites lending to a quintessential Fairview experience.
The building has a covered entryway with individual door bells for each unit. There is a laundry room with one washer and dryer which are owned by the building, as well as storage lockers and a bike storage area. There is the potential to convert the large storage and laundry room into an additional rental unit.
Many of the units feature timeless elements such as original hardwood floors, coffered ceilings, unique stained glass windows, and classical fireplaces with elaborate mouldings.
Each unit is individually metered with its own breaker panel and hardwired heat and smoke detectors.
Financial Statement
Address 1191 West 12th AvenueVancouver, BC
PID 014-684-616
10 Units 6 Bachelor & 4 One Bedroom
Zoning RM-3
Site Size 6,250 sf (50 x 125)
Year Built 1906
Levels Three Storey
Construction Woodframe
Laundry Coin Operated Washer & Dryer
Parking 6 surface stalls
List Price $4,188,000
Price per Unit $418,800
Cap Rate 2.31%
GRM 30.8 x
The Opportunity
Yearly Yearly/Unit % of EGR
REVENUE
Rental Income $131,255 $13,125
Laundry 1 $1,800 $180
Parking 2 $3,600 $360Potential Gross Income $136,655 $13,665
Less: Vacancy (0.50%) $683 $68
EFFECTIVE GROSS REVENUE $135,972 $13,597
EXPENSES
Property Taxes $9,730 $973 7.16%
Insurance $10,031 $1,003 7.38%
Utilities $8,370 $837 6.16%
Business License $740 $74 0.54%
Fire Alarm $1,203 $120 0.88%
Janitorial $2,000 $200 1.47%
Repair & Maintenance $7,040 $704 5.18%
TOTAL EXPENSES $39,114 $3,911 28.77%
TOTAL NET INCOME $96,858
[1] Laundry estimated at $15/unit/month[2] Parking estimated at $50/stall/month (6 stalls)
Fairview
• Fairview is nestled between the Granville and Cambie bridges just outside of Vancouver’s Downtown Core
• This neighbourhood is home to world famous Granville Island, a quick 20 minute walk from the Property, which features a public market, local artisan shops, restaurants, and entertainment
• The Property is located three blocks from the high end shopping district of South Granville which is lined with some of Vancouver’s most sought after retailers
• In closed proximity to Vancouver General Hospital and the surrounding medical district which is one of Vancouver’s job hubs
• The Property is located 600 meters from the future Oak Street Skytrain Station which will connect to the Broadway Line Extension
10 unit Apartment Building
South Granville
*Unit #22 is currently vacant. Market rent shown.
96Walker’s Paradise
96/100 Walk Score
False Creek
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1 Granville Island 7 Heirloon Vegetarian2 Indigo 8 Shoppers Drug Mart3 Pottery Barn 9 Cactus Club Cafe4 Vij’s Rangoli 10 Earls5 Jamjar 11 Storm’s Crow6 Hill’s 12 No Frills
