I have listed a new property at 101 1675 HORNBY ST in VANCOUVER.
Great investment opportunity. Main floor strata retail unit beside the seawall. This 282 sq ft property is ready to occupy. It could be rented for: 1,400 base rent plus $300 Operating Costs [$220 Property Tax and $80 Strata Fee] for a total of $1,700 Gross Rent. This is equivalent to a Cap Rate of about 6%. Pre-paid 99 year Ground Lease till July 4, 2088. Next door neighbour [Unit# 102] with 299 SQFT was sold on February 2012 for $270,000.
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