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British Columbia
Kelowna
1488 Bertram Street Unit# 2605

$699,900

2 Beds

2 Baths

798 FEETSQ sqft

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1488 Bertram Street Unit# 2605, Kelowna, British Columbia, V1Y 0M6

Kelowna BC, V1Y 0M6

MLS® # 10334105

Property Information:

Welcome to #2605 1488 Bertram Street! Built by the award-winning Mission Group, Bertram is a brand-new development offering urban living in the heart of downtown Kelowna. This beautiful, well-appointed South facing, 2-bedroom, 2-bathroom unit includes 798 sq. Ft of living space, w/ a 95 sq. Ft balcony offering breathtaking views of Okanagan Lake. The E-SE floorplan is designed with a modern and sophisticated style and offers clean lines, bright open living space, and calming natural colours throughout. The kitchen features premium wood cabinetry, quartz countertops and stainless-steel appliances. The interior is finished with wide-plank vinyl flooring and glazed ceramic tile. Bertram is an amenity rich building and features a sixth-floor podium with fitness centre, community garden, rooftop bocce courts, and BBQ area. Soak in the unrivaled views of the city with exclusive access to the thirty fourth floor rooftop sky pool, hot tub, and lounge. Other amenities include co-work spaces, bike storage, bike wash/maintenance room, and dog wash. At Bertram, you are located at the centre of the most vibrant part of the city – walk to coffee shops, restaurants, breweries, wineries, shopping, public transit, City Park and the Waterfront Boardwalk. Two side-by-side parking stalls and one storage locker included. Rentals are allowed, with restrictions (min. 30 days) and pets are also allowed, with restrictions (up to two dogs, or two cats or one dog and one cat). Purchase price, plus GST. (id:27)

Building Features:

Style: Apartment
Building Type: Apartment
Amenities: Party Room
Exterior Finish: Other
Fire Protection: Sprinkler System-Fire, Controlled entry, Security system
Floor Space: 798 sqft
Flooring Type: Ceramic Tile, Laminate, Tile
Heating Type: Forced air
Cooling Type: Central air conditioning
Appliances: Refrigerator, Dishwasher, Cooktop - Electric, Oven - Electric

Property Features:

OwnershipType: Strata
Property Type: Single Family
Bedrooms: 2
Bathrooms: 2
Built in: 2024
Community Features: Pets Allowed, Rentals Allowed
Condo Fees: $443 Monthly
Features: Balcony
Floor Space (approx): 798 Square Feet
Pool Type: Outdoor pool, Pool
Storage Type: Storage, Locker
View Type: Unknown, City view, Lake view, Mountain view, Valley view, View of water, View (panoramic)
Zoning Type: Unknown
Sewer: Municipal sewage system
Parking Type: See Remarks, Attached garage, Parkade, Underground
No. of Parking Spaces: 2

Rooms:

Bathroom Main Level 4'10'' x 8'0''
Bedroom Main Level 10'0'' x 10'11''
Bathroom Main Level Measurements not available
Primary Bedroom Main Level 11'2'' x 12'0''
Living Main Level 10'10'' x 10'4''
Dining Main Level 6'6'' x 10'4''
Kitchen Main Level 8'8'' x 10'9''

Courtesy of: Oakwyn Realty Okanagan

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Potential Investment Performance

Cumulative ROI

71.0%

Cumulative Market Appreciation

$133,773

Net Operating Income in Year 5

$29,192

Cash on Cash Return in Year 5

-2.9%

Assumptions

Market Appreciation Per Year

Rent Increase Per Year

Expense Increase Per Year

The information below is based on user inputs and general assumptions for informational purposes only. The outputs are not legal, financial, investment, or other advice. Review all fields for accuracy and consult an agent for guidance.

Mortgage Calculator

Mortgage
Purchase Price	$
Down Payment %	$139,980
Mortgage Amount	$559,920
Mortgage Payment %	$2,905

Cash Flow Calculator

monthly

yearly

Income
Gross Rental Income Powered By	$
Vacancy Rate %	$
Other	$
Gross Operating Income	$3,236

Operating Expenses
Management Fees %	$
Property Tax	$
Repair Reserve %	$
Insurance	$
Condo/Strata Fees	$
Total Operating Expenses	$1,118
Net Operating Income	$2,118

Debt Service
Mortgage Payment	$2,905

Net Cash Flow	-$786

Cap Rate

3.63%

Acquistion Costs

Down Payment $139,980

Land Transfer Tax $11,998

Legal Fees $1,500

Adjustments $0

Appraisal $500

Total Acquisition Costs $153,978

Components of Return

Potential Returns

	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Investments
Down Payment	$139,980	-	-	-	-	-	-	-	-	-
Closing Costs	$13,998	-	-	-	-	-	-	-	-	-
Mortgage Paydown	$8,711	$9,130	$9,569	$10,029	$10,511	$11,016	$11,546	$12,100	$12,682	$13,292
Total	$162,689	$9,130	$9,569	$10,029	$10,511	$11,016	$11,546	$12,100	$12,682	$13,292
Cash Invested	$162,689	$171,820	$181,389	$191,418	$201,930	$212,946	$224,492	$236,593	$249,276	$262,568

Rental Cash Flows
Rent and other income	$38,841	$40,006	$41,206	$42,443	$43,716	$45,027	$46,378	$47,770	$49,203	$50,679
Operating Expenses	-$13,418	-$13,726	-$14,042	-$14,365	-$14,696	-$15,035	-$15,382	-$15,738	-$16,102	-$16,475
Mortgage Payment	-$34,862	-$34,862	-$34,862	-$34,862	-$34,862	-$34,862	-$34,862	-$34,862	-$34,862	-$34,862
Net Cash Flow	-$9,438	-$8,582	-$7,697	-$6,784	-$5,842	-$4,870	-$3,866	-$2,830	-$1,761	-$658

Returns
Property Price Appreciation	$24,916	$25,803	$26,722	$27,673	$28,658	$29,678	$30,735	$31,829	$32,962	$34,136
Mortgage Paydown	$8,711	$9,130	$9,569	$10,029	$10,511	$11,016	$11,546	$12,100	$12,682	$13,292
Net Cash Flow	-$9,438	-$8,582	-$7,697	-$6,784	-$5,842	-$4,870	-$3,866	-$2,830	-$1,761	-$658
Total Return	$24,189	$26,351	$28,593	$30,917	$33,327	$35,825	$38,415	$41,100	$43,883	$46,770
Cumulative Return	$24,189	$50,541	$79,134	$110,052	$143,379	$179,205	$217,620	$258,720	$302,604	$349,374

Investment Metrics
Cumulative ROI	14.9%	29.4%	43.6%	57.5%	71.0%	84.2%	96.9%	109.4%	121.4%	133.1%
Cash On Cash	-5.8%	-5.0%	-4.2%	-3.5%	-2.9%	-2.3%	-1.7%	-1.2%	-0.7%	-0.3%