P PREMIER LOWER LONSDALE APARTMENT BUILDING

P PROVEN UPSIDE IN RENTAL REVENUE

P EXCELLENT FUTURE REDEVELOPMENT POTENTIAL

269 West 4th StreetNorth Vancouver, BCNORTHRIDGE Apartments

Patrick McEvayPersonal Real Estate Corporationpatrick@billgooldrealty.com

T 604.267.2455

David VenancePersonal Real Estate Corporation

david@billgooldrealty.comT 604.264.5752

Margaret Zhengmargaret@billgooldrealty.com

T 604.267.2455

LOCATIONThe Property is located on West 4th Street, just east of Mahon Avenue, and two blocks west of Lonsdale Avenue, in the Lower Lonsdale area of North Vancouver. Lower Lonsdale has experienced tremendous growth over the past few years with the completion of several high-density multi-residential projects and a revitalization of the waterfront. Lower Lonsdale’s urban transformation has created a walkable community with high-density living, shopping, services, public transportation and amenities including: Lonsdale Quay Market and SeaBus Terminal, Time Marketplace, John Braithwaite Community Centre, The Pier, Waterfront Park, Esplanade 6 Cinemas, Presentation House Gallery & Theatre. The nearest bus stop is a 2-minute walk from the Property and the Lonsdale Quay SeaBus is an easy 15-minute walk for public transit to Downtown Vancouver.

BUILDING DESCRIPTIONNorthridge Apartments is comprised of three levels of wood-frame construction above one level of concrete parking, and was built in 1972. The building has 47 residential units totaling approximately 23,358 sq.ft. of rentable area, and each unit has a living room with access to an exterior patio or balcony. There are 48 secured parking stalls and 47 storage lockers. The building is serviced by one traction elevator, and tenants have access to a shared laundry room which contains three sets of owned washers and dryers.

RECENT BUILDING UPGRADES: P Re-piping of the main hot and cold lines

P Installation of LED light fixtures

P Fire alarm Life Safety Upgrade as required by the City of North Vancouver

PMail room and building entry renovations

PNew stainless steel storage tank addition

OPPORTUNITY HIGHIGHTS P Prime location in popular and rapidly growing Lower Lonsdale neighbourhood with transportation, shopping, restaurants, services and recreation all within short walking distance

P Proven and significant upside in rental revenue

POwned and managed to a professional standard by the same family for many years

P Stunning unobstructed city, ocean, and mountain views

P Situated on over ½ acre of medium density designated land which lends excellent future redevelopment potential

PNorth Vancouver has an extremely low vacancy rate at 0.5%

PROPERTY OVERVIEW

CIVIC ADDRESS 269 West 4th StreetNorth Vancouver

NEIGHBOURHOOD Lower Lonsdale

PROPERTY IDENTIFIER 007-954-336

LOT SIZE 23,986 sq.ft.

ZONING RM1 – Multi-Family Apartment Block

OCP DESIGNATION Residential Level 5 with 2.60 FSR

YEAR BUILT 1972

PARKING 48 Secured Stalls

BALCONIES/PATIOS All Suites

ELEVATOR Basement Traction

TYPE OF CONSTRUCTION3-Storey Wood Frame on One Level of Concrete Parking

SUITE MIX

9 - Bachelor32 - One Bedroom 6 - Two Bedrooms47 Residential Units

PROPERTY TAXES 2015 $41,339.06

PRICEUn-priced Contact Listing Agents for Details

REVENUE ANNUALLY

Rental RevenueParking RevenueLaundry Revenue Miscellaneous RevenuePotential Gross Revenue (PGR)Less: Vacancy Allowance (0.50%) EFFECTIVE GROSS REVENUE (EGR)

$615,336$9,050$7,328$695$632,409($3,162)$629,247

OPERATING EXPENSES

Property Taxes (2014)InsuranceElectricityGasWater/SewerTelephoneLicensesAlarm/FireElevator MaintenanceJanitorialGarbage DisposalLandscapingPest ControlSundriesRepairs & MaintenanceCaretaker Wages & BenefitsProperty Management [1]

Administrative TOTAL OPERATING EXPENSES

$40,901$20,291$4,357$20,792$18,039$335$1,292$1,565$2,579$1,475$3,614$1,973$664$3,926$15,687$32,536$0$306$170,332

NET OPERATING INCOME $458,915

[1] Building is self-managed by current owners.

PRICE & OFFERING PROCESSThis offering is un-priced. A Confidential Information Memorandum (CIM) is available to qualified investors upon execution of a Confidentiality Agreement (CA).

THE CIM WILL INCLUDE: P PROSPEC Building Condition Report (October 2015)

PAltus Market Appraisal Report (October 2015)

PNEXT Stage-1 Environmental Report (October 2015)

P Vendor-approved Offer Form

Interested parties are asked to contact the Listing Agents to confirm the deadline for offer submissions.

INCOME STATEMENT

Lobby

Kitchen View from Suite

Bathroom Bedroom

RE/MAX Bill Goold Realty | #410 North Tower | 650 West 41st Avenue | Vancouver, BC V5Z 2M9Each office is independently owned and operated. This communication is not intended to cause or induce breach of an existing agency agreement.

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.

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

David VenancePersonal Real Estate Corporation

david@billgooldrealty.comT 604.264.5752

Patrick McEvayPersonal Real Estate Corporationpatrick@billgooldrealty.com

T 604.267.2455

Margaret Zhengmargaret@billgooldrealty.com

T 604.267.2455

269 West 4th Street

Lonsdale Avenue