Renovated Renfrew Bungalow
3079 + 3083 East 22nd Ave, Vancouver
Incredible INVESTMENT opportunity in Renfrew Heights – 4% CAP rate! This fully renovated bungalow has 3 sources of income which earns $4755/month. Beautifully restored home, gorgeous basement suite, plus a new 2 bedroom laneway house in 2012. This discerning owner is a professional contractor – and he thought of it all! Modern living with a vintage charm. Every nook and cranny of this property is maximized for best use, with tons of storage and thoughtful touches. The MAIN HOUSE (upper floor) was taken down to the studs and completely renovated in 2010 – all new electrical, new plumbing, in-floor heating in bathroom & kitchen, all new appliances, granite kitchen countertops. The main home offers lots of sunshine, a front porch and a large, covered back deck with mountain views on a clear day. 2 bedrooms, 1 bathroom, wood fireplace, eat-in kitchen, gas range, and beautiful refinished (original) old growth fir floors. The BASEMENT was also fully remodeled into an extremely enjoyable 2 bedroom suite with high ceilings, and a main-residence quality kitchen with granite counters, lots of cabinetry, and newer appliances. Quality and livability were a huge priority in this reno – with extra insulation and soundproofing techniques that you don’t find in your average new home, plus new double glazed windows. In 2012, the 2 bedroom, 2 storey LANEWAY HOUSE was built. With 842 square feet of living space, a large living room, modern kitchen with granite counters and stainless steel appliances, a gorgeous dining area, skylights, lots of built-in storage, plus views from the top floor balcony, your tenants may never want to leave.
EACH RESIDENCE has its own in-suite washer and dryer set, a dishwasher, a personal and secured outdoor storage locker, and a dedicated outdoor area. The laneway house has its own address (3083 E 22nd Ave) and is separately metered (hydro). Phenomenal rental homes which attract great tenants who stick around.
BONUS – an outdoor car pad, plus lots of street parking available. 33’1 wide lot. The exterior of the main house was repainted in 2011, when the front porch and rear deck were built. The roof is 10 years young. The owner has paid great attention to detail – there’s too much to list here! Please inquire for full summary of renovations (including new storm and sewer pipes!)
The basement and laneway tenants are both long-term residents who would prefer to remain with the new owners. Great timing – the main floor tenants are moving out soon. You can choose your own, or move in!
INVESTOR ALERT! Great CAP rate for a residential property in Vancouver at 4%!
HOME BUYER ALERT! Live in the main house for WAY LESS than paying rent!
Great location! Quick access to bus, short distance to SkyTrain. Walk to Renfrew Community Centre and Nootka Elementary.
After multiple offers, this home SOLD well over asking price!
This sale set a new benchmark for non-new homes in the area & was featured on CTV News. View the CASE STUDY.
Year Built: 1948
CAP Rate: 4%
Interior: 2,376 sf
Laneway House: Yes
Laneway Year: 2012
Lot: 33.10′ x 109.9′
Lot Size: 3,638 sf