The Drive- 1177 Marine Drive North Vancouver
So I went and checked out The Drive in North Vancouver, an Onni project on Marine Drive and there are some really great investment properties that provide some excellent returns.
The units go on sale today and Onni is offering 3% discount for purchasers who buy this June.
Just a bit about the project, 4 storey mixed use, wood frame with concrete and brick, 2 buildings with an inner courtyard, one facing Marine Drive and the other 16th Ave. Completion is June 2013. Located on Marine Drive between Lloyd and Pemberton. Awesome up and coming location. There have been 2 other buildings that have gone up in the last year and have sold out and are very popular and in demand.
Here are 3 condos that would provide a great return on your investment and have excellent resale value.
#411- 2 bed 2 bath and den 895sf with 160sf deck, NW facing, bright, 12ft vaulted ceilings 2 parking and storage.
Price is $479,900 plus 7% GST minus 3% discount comes to $498,760. This rents for $2400/month very quickly.
Maintenance is .28cents/sf=$250.60. So after maintenance and tax, the NET Return is 4.7%
Great resale with the vaulted ceilings, den and open concept, top floor.
#203- 2 bed 2 bath with 360sf deck, corner suite and SW facing. 2 parking and storage.
Price is $483,900 plus 7% GST minus 3% discount comes to $502,185. Rents for $2400/month.(maybe more)
Maintenance is $253.00 so after maintenance and tax the NET return is 4.7%
Great resale here, SW corner unit with huge deck (they sell the fastest)
#401 1 bed and den with 160sf deck. 1parking and storage. NW facing and courtyard outlook.
Price is $314,900 plus 7% GST minus 3% discount comes to $326,834. This rents for $1500/month.
Maintenance is $151.60 so after maintenance and tax the NET return is 4.5%.
Great little 1 bedroom, bright and cheery, top floor with 9ft ceilings.
The deposit structure is 10% down, 5% upon acceptance and 5% within 90 days.
I believe it's by far the best NEW Real Estate investment opportunity on the North Shore!
Any questions, or for more information on The Drive, please give me a call!! 604-417-4457