Sold price: $6,050,000
Sold date: May 23, 2017
The apartment building is located between Dewdney Trunk Road and 119 Avenue in a peaceful and well-preserved neighborhood known as Haney, one of several historic communities of Maple Ridge. In walking distance, there is Haney Place Mall with various convenient stores like Walmart, Thrifty Food, Rexall and Kin’s Farm Market. In addition, Maple Ridge Public Library, major banks and local parks are in close proximity to the property.
Heading south from the property, Port Haney Station of the West Coast Express is located only a 5-minute drive or a 10-minute bus ride away. Also, Lougheed Highway (Highway 7) conveniently connects the city to Pitt Meadows, Port Coquitlam and Coquitlam via Pitt River Bridge. The Golden Ears Bridge, southwest of the property connects to the Trans- Canada Highway in a quick 15-minute drive.
Cypress Apartments is a three-storey, wood-frame building constructed by the current owner in 1969. Building amenities include common laundry room (one washer & one dryer) in each floor and tenant storage lockers.
The following is a list of improvements:
Property Details | |
Number of units | 43 |
Stabilized net operating income | $214,448 |
Capitalization rate | 3.35% |
Price per unit | $148,837 |
Lot size | 32,757 square feet |
Zoning | RM-3 |
Parking | 39 underground parking |
Suite Mix | |
One bedrooms | 30 units |
Two bedrooms | 13 units |
Total | 43 units |
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.
Taylor is a dedicated and results-oriented professional with a proven track record in real estate. In 2022, he seamlessly transitioned to the NAI Apartment team to elevate his expertise and contribute to the dynamic industry landscape. His passion for real estate is underscored by a keen focus on apartment buildings within the vibrant Greater Vancouver market. Taylor brings a sophisticated approach to investment analysis and market trends, leveraging his extensive knowledge of the local market.
Guided by a client-centric ethos, Taylor prioritizes building enduring relationships by delivering unparalleled service and optimal results. Through effective communication and a collaborative mindset, he consistently strives to surpass expectations while maintaining a professional and approachable demeanor.
Education & Affiliations
Jackson graduated from Simon Fraser University in 1986 with a Business Degree in Marketing and Finance (BBA). After graduation, Jackson was employed as a project coordinator with a small development company where he performed site evaluations and feasibility studies.
In 1987, Jackson left the development firm to begin his career as a commercial Realtor® with NAI Commercial’s (previously “Goddard & Smith International”) downtown Vancouver office and has since become a specialist in multi-family properties throughout the Lower Mainland. Over the course of his career, Jackson has sold over $1 billion investment properties.
Jackson is originally from Malaysia and he speaks Mandarin, Cantonese and Taiwanese as well as fluent English. His specialty in multi-family investment properties is focused to offshore buyers in the Asian market.
Significant Transactions
Terry has transacted over $3 billion multi-family properties over the course of his career and in 2016 he was awarded the “Top Real Estate Board of Greater Vancouver Commercial REALTOR® for Total Dollar Volume.” He was also the #1 Commercial Broker at NAI Commercial in Canada. Terry was educated in Ontario where he graduated with a diploma in Business from Sir Sanford Fleming College. Terry joined NAI Commercial’s Vancouver office in June of 1980 after a successful career with the commercial downtown office of Canada Permanent and has gained over 40 years of experience as a real estate specialist in multi-family investments. Terry has had the opportunity to work in NAI Commercial’s offices in London, England where he specialized in marketing North American Properties to European pension funds and institutions. He helped set up the international department for Goddard & Smiths London office and worked with senior partners to arrange their first international property auction in New York. Terry returned to Goddard & Smith in Vancouver at the end of 1986 and continues to specialize in multi-family investment projects.
Significant Transactions