These properties are in the Harris Green area and
under a Development Permit allows a higher density
(high rise apartment building) with parking concessions.
It is the responsibility of the buyer to determine
that the existing zoning or the proposed zoning complies
with their intended use.
|
| Click
Here for Floor Plans |
| Asking Price For Both Properties:
$890,000 |
850 Johnson St.
Lot 1 of Lots 396 and 397, Victoria City, Plan 4255
PID 006-066-119
Vacant Lot - presently rented as a parking lot by the auto tenant
- Lot Size: 60' x 119.5' = approximately 7170 Sq. Ft.
- Taxes $9,905. (2004)
- Present zoning - R48
|
1400 Quadra St.
Lot 2 of Lot 397, Victoria City, Plan 4255
PID 006-066-151
- Lot Size: 63.2' x 82.71' = approximately 5250 Sq. Ft.
- Building Size - Approximately 3600 Sq. Ft.
- Taxes: $10,296. (2004)
- Garage and Sales Office - 2450 Sq. Ft.
- Quadra St. - 1000 Sq. Ft.
- Present Zoning - S
|
| Total Size of Both Lots: 12,420 Sq. Ft. Approximately |
Lease Term - Expires September 30th,
2006
Option to Renew - 3 years at a rate to
be negotiated |
| Tenant - Car-Ex, operating auto sales, leasing and repair business |
| Environment - Remediation has been
mostly completed, environmental reports are available.
|
| Pro
Forma Income Statement, Year Ending September
30th, 52005 |
| |
| Gross
Rent |
Parking Lot, Garage and office |
$66,000/annum |
|
2150 sqft |
$6,000/annum |
| Total Gross |
|
$72,000/annum |
| |
| Expenses |
Property Taxes 2004 |
$20,2000 |
| Insurance |
|
$1,200 |
| |
|
$21,400 |
| |
| NET INCOME |
|
$50,600/annum |
|
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