1285 Martin Street
1285 Martin Street
- 1285 Martin Street White Rock, BC
- 1285 Martin Street White Rock, BC
- Zoning
- RM-2
- PID
- 005-006-627
- Property type
- Multifamily
- Gross income multiplier
- $34,727.17
- Legal description
- Parcel A Plan NWP52145 Section 10 Township 1 Land District 36
Constructed in 1977, the subject property is improved with a quality three- story woodframe apartment building comprised of 29 suites (2 studios, 24 1-bedrooms, 3 2-bedrooms). The curb appeal of this apartment block is enhanced by exceptional landscaping and a 20-foot asphalt paved lane runs to the rear of the property. Secure underground parking for 29 vehicles is accessed from the lane.
Access and egress through the building is assisted by a modernized eight-person elevator and wide hallways. Heat is by way of a gas-fired boiler and tenants are billed directly for hydro and cable. Each suite includes a kitchen with electric range, a contemporary refrigerator, ample cupboard space and the use of a full-size locker in the basement. There is also a 2-washer 2-dryer laundry facility.
South-facing ocean views and many recent improvements such as hallway paint and carpet, a modernized elevator and lobby and ongoing suite upgrades add to the strong rental demand. This apartment building provides exceptional accommodation to either short or long-term tenants. Security of tenants equates to security of investment. For such reasons, properties like this one are highly sought after, yet rarely available
The subject property is strategically situated on the southwest corner of Martin Street and Roper Avenue, and the northwest corner of Martin Street and Prospect Lane. The property is just steps to White Rock Elementary School and Johnston Road, which offers several shops, services, and amenities. In addition, the White Rock Promenade and surrounding waterfront attractions are a 10-15 minute walk from the property.
White Rock, an upper-class community, is surrounded on three sides by South Surrey and borders Delta to the west and Washington State to the south and the Pacific Ocean to the east. Its moderate climate, 45-kilometer proximity to Downtown Vancouver and a five-minute drive to the U.S. border help make this a preferred location for retirees and above-average income earners, American or Canadian.
The surrounding properties consist of a mix of renovated and upgraded buildings of relatively equal vintage as well as newer buildings. Most of the buildings that comprise this tourist district have a mixed-use of commercial, office and residential.
White Rock is known for its convenience, ocean-side location, and spectacular views. This property excels in all three categories. White Rock’s commercial center with shopping malls, services, and supermarkets is just a short two-minute drive away and Marine Drive itself is host to many eclectic shops, entertainment options, and restaurants. White Rock’s population is increasing rapidly and, with its small and concentrated land area, rents can only go up.
