#323 Coast Hotel on Blackcomb Revenue Breakdown
This suite is located at the Coast Hotel on Blackcomb and it is located at the top of Painted Cliff Road. Click here for the Google map of it's location.
The property is a Phase 2 restricted hotel condo which means that you as the owner are allowed to use your suite for 28 days in the winter and 28 days summer. The rest of the time the hotel management handles the nightly rentals and you get a share of the pooled revenue along with the other owners but proportionate to your suite's IUD (Interest Upon Destruction) number.
I've taken the liberty of going through the rental revenue numbers for you and they break down for 2009 (2009 is a good representation as it wasn't an Olympic year) as follows:
Net revenue before expenses: $6,496
Less strata fees for the year: $4,116
Less property taxes: $1,710
Less Tourism Whistler fee: $520
Net to owner after ALL expenses: $150
I know this doesn't seem like much but it's about the level that one can expect on a property in Whistler. The revenues generally take care of the operating expenses but DO NOT cover a mortgage.
You can also click here to take a look at the currently listed studios in this building along with the studio sales here in the past 18 months. You can see that this is the lowest priced studio suite in this building that there has ever been. It's a great buy.
The property is a Phase 2 restricted hotel condo which means that you as the owner are allowed to use your suite for 28 days in the winter and 28 days summer. The rest of the time the hotel management handles the nightly rentals and you get a share of the pooled revenue along with the other owners but proportionate to your suite's IUD (Interest Upon Destruction) number.
I've taken the liberty of going through the rental revenue numbers for you and they break down for 2009 (2009 is a good representation as it wasn't an Olympic year) as follows:
Net revenue before expenses: $6,496
Less strata fees for the year: $4,116
Less property taxes: $1,710
Less Tourism Whistler fee: $520
Net to owner after ALL expenses: $150
I know this doesn't seem like much but it's about the level that one can expect on a property in Whistler. The revenues generally take care of the operating expenses but DO NOT cover a mortgage.
You can also click here to take a look at the currently listed studios in this building along with the studio sales here in the past 18 months. You can see that this is the lowest priced studio suite in this building that there has ever been. It's a great buy.