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For new mortgages, if the downpayment or equity is less then 20% of the purchase price, the amortization cannot exceed 25 years and the maximum purchase price must be less than $1,000,000.
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1282 Kingsway, Vancouver
MLS®:
2800
Sq.Ft.
1952
Built
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Description
Solid 2 level free-standing commercial property on busy Kingsway near Knight Street in Vancouver East. Restaurant Retail tenant have lease until April 1, 2020 with 5 year option. 2nd floor 3 bedroom unit rented on a month to month bases. Lot size approx. 4,114.21 sf (according to tax report), C-2 Commercial Zoning. Total net income approx. $60,400/year. Solid building with newer torched on roof and many updates in the residential unit. This is an excellent investment/holding property with great future re-development potentials.
Taxes (2019): $1,758,658.00