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

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng

(604) 267-2455 | james@billgooldrealty.comCONTACT JAMES BLAIR FOR FURTHER DETAILS

410 – North Tower, 650 West 41st Avenue, Vancouver, BC V5Z 2M9

LIST PRICE:

$1,325,000

FOR SALE7225 Highview Road, Port Hardy

WESTPARK MANOR

41-UNIT MULTI-FAMILY APARTMENT BUILDINGIN PROXIMITY TO SCHOOLS, HOSPITAL, AND

DOWNTOWN PORT HARDY

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR

CIVIC ADDRESS: 7225 Highview RoadPort Hardy, V0N 2P0

PROPERTY IDENTIFIER: 000-187-267

LEGAL DESCRIPTION: Lot 1 Plan 32757 Section 36 Township 9 Land District 49

ZONING: RAM1 – Multi Family Apartment Block

LOT SIZE: 81,457 sq.ft.

YEAR BUILT: 1979

CONSTRUCTION TYPE: 4 storey wood frame

41 RESIDENTIAL UNITS: 3 – Bachelor | 13 – 1 Bedroom25 - Two Bedroom

ELEVATOR: Yes

BALCONIES/PATIOS: Yes

PARKING: Yes – 59 surface stalls

PROPERTY TAXES (2014): $7,459

ASSESSMENT JULY 2014: Land $ 92,900

Improvement $613,000

Total $705,900

PROPERTY SUMMARY

HIGHLIGHTS:

Proximity to shopping, hospital, schools, and the downtown core of Port Hardy

Excellent suite mix

Elevator service

Balconies or patios for every suite

Ample parking

Electric baseboard heat paid for by tenants

Lindsay Manor, a 56-suite building, is directly adjacent to the Property and is also available for sale

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR

LOCATIONPort Hardy is a rural town located on the northern tip of Vancouver Island. With a growing population of approximately 4,000habitants, Port Hardy has aggressive economic development initiatives along with short-term and long-term strategic goals toattract businesses. Amenities can be found on Granville Street, which leads to Port Hardy’s ocean-front downtown core. Alongthe shore are many restaurants and pubs offering breathtaking views of the Queen Charlotte Strait and its wildlife. BC Ferrieslinks Port Hardy with several remote communities along the breathtaking Inside Passage and Discovery Coast routes to PrinceRupert and Bella Coola.

Over the last several decades, Port Hardy has become synonymous with outdoor activities and adventure. Flanked byconiferous forest on one side and the Queen Charlotte Strait on the other, visitors are just steps away from a vast expanse ofuntamed wilderness. Port Hardy offers kayaking, hiking & parks, scuba diving, wildlife viewing, beaches, and cultural tours.Port Hardy is the starting point for the world famous Cape Scott Provincial Park and the North Coast Trail. Additionally PortHardy serves as a home away from home for many of the northern commercial fishing fleet. With an abundance of salmon,cod, and halibut it is an ideal fishing destination.

LOCATION PROFILE

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR

PROPERTY DESCRIPTIONTHE OPPORTUNITYWestpark Manor is a conveniently located apartment building; close to the hospital, schools, and the downtown core. The suites are very well maintained as they are regularly taken care of and upgraded before they are rented out. The adjacent property, Lindsay Manor, is also available for sale.

BUILDING DESCRIPTIONThe building is 4-storey wood frame construction with aluminum siding and cedar trims. The roof consists of flat wood trusses with a membrane cover and was replaced in 1992. The windows are dual pane aluminum sash. Hallways are carpeted and are in above average condition. There is linoleum in the laundry areas and ceramic tile in the entrance foyer. The building is serviced by a four stop 1500 pound Montgomery Passenger elevator. The laundry room is on the main level and has 3 washers and 3 dryers. The exterior is landscaped with an outdoor tennis court complete with 11’ high chain link fencing. Parking facilities include 2 separate entrances with 59 surface parking stalls.

A typical suite has a living/dining area with galley kitchen featuring wood cabinetry and 24” or 30” stoves and fridges. The bathrooms are a standard 4-piece bathroom complete with vanity. The bathtub surrounds are ceramic tile. Living room, dining room, hallway, and bedrooms are carpeted, and the kitchen and bathroom flooring is linoleum.

Electrical baseboard are located in each suite and heating costs are the responsibility of the tenants. Domestic hot water is supplied by an in-suite 40 gallon electrical tank; costs of which are also the responsibility of the tenants. There is an HVAC special intake air system on the roof which supplies fresh air to the hallways.

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR

Restaurants Errand | Entertainment

Quarterdeck Pub Peoples Drug Mart

Mo’s Restaurant Rexall

Walcan Seafood Port Hardy Hospital

Hogan’s Corner Home Hardware

Parks Groceries

Carrot Park Overwaitea Foods

Port Hardy Walkway BC Liquor Store

Beaver Harbour Park

Shopping Coffee Shops

Thunderbird Mall Café Guido

tb!s The Bargain Shop Market Street Cafe

Walk Score Methodology: Walk Score measures the walkability of any address. For each address, Walk Score analyzes hundreds ofwalking 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)

*

LOCATION AMMENITIES

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR

Top left: BC Ferries links Port Hardy with several remote

communities along the breathtaking Inside Passage andDiscovery Coast routes to Prince Rupert and Bella Coola. Thisferry service, located 4-minutes from the Property, offers a widevariety of possible scenic day cruises.

Top right: Located less than a 20-minute walk from the

Property, the downtown Port Hardy waterfront walkway offersviews of wildlife and an unlimited supply of fresh sea air toenjoy. The stroll begins at Rotary Park, where two familyplaygrounds, public washrooms, and the informative VisitorCentre are located.

Bottom: Located 64km to the west is the world class Cape

Scott Provincial Park. This rugged coastal wilderness park,located at the northwestern tip of Vancouver Island, is home today hikes or backpacking excursions to explore the sandybeaches and rainforest area. Cape Scott covers 115km of awe-inspiring ocean frontage and 30km of remote beaches.

NEIGHBOURHOOD SHOWCASE

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR

Top left: The Fort Rupert Trail is a 3.7km trail that follows

the traditional route the Kwakiutl First Nations tookoverland to Bear Cove. It is not uncommon to see manydifferent types of wildlife, including black bears, along thetrail as well as culturally modified trees.

Top right: Port Hardy is nestled right along the Queen

Charlotte Strait offering views of crystal blue waters in theforeground and snow capped mountains in the distance.The waterfront is bustling with fishing boats returning withtheir daily catch, to sea planes taking off and landing. Thenumerous benches give the perfect opportunity to sit backand enjoy the view.

Bottom: Located on the northwest coast of Vancouver

Island, Raft Cove is about 65km from Port Hardy. Thispopular parks offers day hikes, sea side camping, surfing,scuba diving, and fishing.

NEIGHBOURHOOD SHOWCASE

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR PLEA

SE N

OTE

:

UNIT NUMBER

TYPEMONTHLY

RENTANNUAL RENT

101 [1] 2 Bedroom $625 $7,500102 2 Bedroom $595 $7,140103 [F] 1 Bedroom $347.50 $4,170104 1 Bedroom $207.60 $2,491105 1 Bedroom $475 $5,700106 1 Bedroom $247.50 $2,970107 [1] 2 Bedroom $570 $6,840108 2 Bedroom $585 $7,020201 2 Bedroom $565 $6,780202 [F] 2 Bedroom $741.72 $8,901203 2 Bedroom $585 $7,020204 [F] 1 Bedroom $795 $9,540205 1 Bedroom $515 $6,180206 [F] 2 Bedroom $985 $11,820207 [F] 2 Bedroom $985 $11,820208 Bachelor $425 $5,100209 1 Bedroom $525 $6,300210 2 Bedroom $565 $6,780211 [F] 2 Bedroom $1,150 $13,800301 2 Bedroom $635 $7,620302 2 Bedroom $985 $11,820

UNIT NUMBER

TYPEMONTHLY

RENTANNUAL RENT

303 2 Bedroom $585 $7,020304 [F] 1 Bedroom $575 $6,900305 1 Bedroom $465 $5,580306 [F] 2 Bedroom $985 $11,820307 2 Bedroom $585 $7,020308 Bachelor $425 $5,100309 1 Bedroom $475 $5,700310 [1] 2 Bedroom $500 $6,000311 [F] 2 Bedroom $985 $11,820401 2 Bedroom $625 $7,500402 2 Bedroom $615 $7,380403 [1] 2 Bedroom $575 $6,900404 1 Bedroom $525 $6,300405 1 Bedroom $515 $6,180406 2 Bedroom $585 $7,020407 2 Bedroom $565 $6,780408 Bachelor $400 $4,800409 [F] 1 Bedroom $595 $7,140410 2 Bedroom $585 $7,020411 [1][F] 2 Bedroom $1,095 $13,140

TOTAL 41 UNITS $25,369 $304,432

RENT ROLLWESTPARK MANOR

[1] Currently vacant- monthly rent is asking price[F] Furnished suite

August 2015

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR PLEA

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CASH FLOW ANALYSISWESTPARK MANOR

[1] August 2015 rent roll x 12[2] Estimated at $10 per unit per month[3] Average vacancy for the property January-August 2015[4] Utilities include hydro, waste removal, gas, and water and sewer[5] Stabilized at $50 per unit per year[6] Stabilized at 5% of EGI[7] Stabilized at $750 per unit per year. Actual R and M for 2014 was $18,720

YEARLY YEARLY/UNIT % OF EGIREVENUE Rental Income [1] $304,432 $7,425Laundry [2] $4,920 $120Gross Income $309,352 $7,545Less: Vacancy (21.90%) [3] ($67,748) ($1,652)EFFECTIVE GROSS INCOME $241,604 $5,893

EXPENSES Property Taxes $7,459 $182 3.09%

Insurance $7,273 $177 3.01%

Utilities [4] $39,311 $959 16.27%

Elevator $6,187 $151 2.56%

Licence $308 $8 0.13%

Caretaker [5] $24,600 $600 10.18%

Management [6] $12,080 $295 5.00%

Repair & Maintenance [7] $30,750 $750 12.73%

TOTAL EXPENSES $127,968 $3,139 52.97%

TOTAL NET INCOME $113,636 CAP: 8.58%

James Blair | Bill Goold | Ray Townsend | Patrick McEvay | David Venance | Margaret Zheng WESTPARK MANOR

Bill Goold Realty | Exclusive Agents

For more information, please contact:

James BlairSenior Associate(604) 267-2455james@billgooldrealty.com

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