2910 Alder Street, Vancouver

2910 Alder Street, Vancouver

$13,168,000 - Sold by NAI Commercial

Sold Price: $12,400,000

Sold Date: May 20, 2016


Building Description


This three-storey, wood-frame building has been meticulously maintained with many capital improvements. You start by entering the building with a modernized intercom that links directly to tenants cellulars, followed by a bright and clean lobby. The hallways have been repainted within the last five years coupled with newer commercial grade carpets. The property is heated by an original Beaver Brooke boiler that has been serviced regularly.  Taking the modernized  elevator up to the top floor, these apartments enjoy city and mountain views through updated double paned windows and newer sliding doors to there Juliet Balconies. Building layout consists of six units on the main floor than ten units on each upper floor, all with high ceilings. Inside the kitchen and bathroom of each suite has had the plumbing replaced. Noise is minimized by four inch concrete slabs on each floor underneath parquet hardwood fibers. During the day the building is almost completely empty as the tenant profile consists mostly of young professionals without any pets or smokers. For extra storage each unit is granted a storage locker. The roof is a one year old insulated design. The oil tank has been removed with a decommissioning report available


Location


The subject property is considered a walker’s paradise. Directly to the west is shopping along Granville Street that has ample shops and restaurants to supply all of the tenants needs. Conveniently located to the West is access to public transportation into the city via Oak and Granville Street arterial routes. On the North side is West Broadway, which is populated by more shops and professional offices such as doctors, dentists, physiotherapists.

Heading south is the beautiful Shaughnessy Park for some relief of the city. Another popular local feature is the Vancouver General Hospital a few blocks away that brings high profile tenants prioritizing proximity for residency. This location truly encompasses a 360 degree paradise for any prospective tenant.

Property Details
Number of Units 36
Price Per Door $365,778
Capitalization Rate 2.2%
Net Operating Income $286,980
Lot Size 100’ x 125’ = 12,500
Parking 12 parking
Suite Mix
Junior one bedrooms Approximately 20
One bedrooms 16
Total 36

Property on Map

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.

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