BC Box Property in Port Coquitlam with Tenanted Suite Just Steps from Westcoast Express!! Assigned

  • $1,099,000
  • 5 beds
  • 2 baths
  • 2338 sq ft sqft
Assigned
This central Port Coquitlam property is close to downtown PoCo, schools, shopping, and is just a 650m walk to the Westcoast Express!! The property comes with a tenanted 1-bedroom suite, which is currently renting for $814/month, as well as a vacant, 4-bedroom unit that includes space on the main floor as well as the entire second floor. We see 2 fantastic opportunities with this property: either rent the vacant unit and hold as a 2-unit rental, or renovate the main, 4-bedroom unit and sell as a renovated home with a mortgage-helper suite. Nearby properties, including the nearly identical one next door, are selling for $1,260,000-$1,300,000, so don’t miss your opportunity with this fantastic property!!

We are selling our assignable purchase contract.

Closing is November 29th, 2021
*Please note: The Buyer will have 1 walkthrough after purchasing this property.*

**As per our APS, Buyer agrees to assume downstairs tenant and does not require vacant possession of downstairs suite on possession date. Seller agrees to provide the Buyer with a copy of the tenancy agreement within 5 business days.**

***Please note: The Seller is trying to evict the tenant. This was only a verbal mention to us. The tenant has already stated that they are looking to move out in the next few months, but has not found a place yet.***

PROPERTY FEATURES
Please note: The BC Assessment describes the property as being only a 1-storey with a basement level, however the “basement” is fully above grade. We believe more accurately that this is a 2-storey property with a first and second floor.

  • 2-storey ‘BC Box’ style home
  • 5 bedrooms
    • 4 bedrooms are located in the Second Floor Unit
      • 1 of the 4 bedrooms is located in the main floor foyer area. While there is a door leading to the Main Floor Unit from the foyer, the Second Floor Unit does not have any access.
    • 1 bedroom is located in the Main Floor Unit
      • In the walkthrough video our Acquisition Rep stated that the main floor bedroom may have formerly been the carport, but has since learned that this is incorrect
  • 2 full bathrooms
    • 4-piece bathroom is located in the Second Floor Unit
    • 4-piece bathroom is located in the Main Floor Unit
  • Built in 1967
  • Interior square footage: 2338 sq ft (as per BC assessment)
    • First floor: 1221 sq ft (as per BC assessment)
      • This floor is listed as being the “basement” on the BC Assessment 
    • Second floor: 1117 sq ft (as per BC assessment)
      • This floor is listed as being the “first floor” on the BC Assessment 
  • Separate entrances:
    • Front door opens to the main foyer, with stairs that lead up to the Second Floor Unit
    • Sliding glass door in the Second Floor Unit living/dining area leads out to a balcony, which overlooks the front of the property
    • Door in the Second Floor Unit kitchen also leads out to the front balcony, which wraps around the property, and also has stairs leading down to the backyard
    • Door at the rear of the property leads directly into the Main Floor Unit
    • Additional door at the rear of the property leads into what used to be the carport, but has since been converted to a laundry/storage room for the Main Floor Unit
  • 2 fridges, 2 stoves, washer & dryer will all be included
  • 100 AMP breaker panel
  • Flooring:
    • The majority of the flooring in the Second Floor Unit is wood panel flooring that has been refinished in the past 4 months (as per Seller)
  • The main floor features a foyer, that includes a coat closet, as well as storage area under the stairs
  • When our Acquisition Rep walked on the front balcony they detected that the balcony may not be level, and may slant slightly toward the front yard (Buyer to verify)
  • Furnace is an unknown age, but appears to be an older Airco model (Buyer to verify)
  • HWT is owned, and was installed in 2020 (as per Seller)
    • HWT is a Rheem model with a 151 litre capacity (as per Seller)
  • Roof is a 50-year metal roof, and was installed in 2016 (as per Seller)
  • Windows appear to be original, and are single pane (Buyer to verify)
  • On municipal services
  • Property features:
    • The backyard has a pond that appears to require maintenance/cleaning (Buyer to verify)
    • There is an above-ground swimming pool and a tent/pop-up trailer in the backyard that both belong to the tenant
  • There is a long driveway that runs nearly the length of the property from the road in the front of the property to the rear laneway, however there is no gate for the laneway
    • Other than the laneway access, the property is fenced on all sides
  • No garage or carport
    • The former carport has been enclosed to create a laundry/storage room on the main floor, that is only accessed from a separate door at the rear of the property. There is a washer and dryer in this room as well as storage space that is currently being utilized by the tenant, however it has been previously used as a shared laundry room for both units. Our Acquisition Rep was not able to access this room during their visit, or take photographs of it 
  • Parking for 2 cars in the driveway
  • Lot size: 7923 sq ft (as per BC assessment)
  • Zoning: RS1 (see HERE)
    • As per the Zoning Bylaw, RS1 zoning allows for a Single Residential building with a Secondary suite, as well as Accessory child care facilities, Accessory home business, and Accessory Hobby Beekeeping (see HERE, pg. 15-16)

UNIT BREAKDOWN
Main Floor Unit:

  • The Seller has advised us that this is not a ‘legal’ secondary suite, and it has not been registered with the municipality (Buyer to verify)
  • This unit is currently tenanted at a rate of $814/month + utilities
    • The tenant has been in the suite since 2013, and always pays their rent on time (as per Seller)
    • The tenancy agreement states that the rent is $785/month, however the tenant now pays $814/month (as per Seller)
  • 1 bedroom
  • 1 full bathroom
  • Living room
    • There is a wood-burning fireplace in this room, with a painted mantle
      • The tenant has installed an electric fireplace in front of the mantle
  • Storage room
  • Access to laundry area
  • Kitchen
  • Please note: The tenant has communicated to us that they are looking to buy a property and move out in the coming months, but have not found anything yet. Nothing has been signed, stating that they will be vacating the property. 

Second Floor Unit:

  • This unit is currently vacant
  • 4 bedrooms
    • 3 bedrooms are located on the second floor
    • 1 bedroom is located in the main floor foyer
  • 1 full bathroom
  • Living room
    • There is a wood burning fireplace in the living room, with a painted brick mantle
  • Dining room
  • Kitchen
    • This kitchen features stone countertops, with a section of the counter that is a wooden butcher block
  • Access to laundry area
  • Can be accessed from either the front door, as well as either of the doors on the wrap-around balcony

PROPERTY NEEDS

  • Cosmetic updating
  • Landscaping

 

Please click HERE for more pictures and information.

Price:
$1,099,000
Address:
Hawthorne Ave & Mary Hill Rd
Port Coquitlam, BC
Square Feet:
2338 sq ft
Lot Size:
7923 sq ft
Bedrooms:
5
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Duplex
Year Built:
1967

Call (647) 400-2093 for more details

Property Location