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North Vancouver apartment building sells above assessment

Rental apartment building in North Vancouver goes for slightly above its assessed value at $5.2 million
DD Acacia place East 15th Street North Vancouver

A 62-year old, 11-unit rental apartment building in North Vancouver sold for slightly above its assessed value for $5.2 million, the equivalent of more than $472,000 per suite.

Breakdown:

Price: $5.2 million

BC Assessment value (July 2018): $5.16 million

Property type: Multi-family rental building

Number of units: 11

Price per unit: $472,727

Lot size: 7,462 square feet

Zoning: R-6; high-density, 3 floor-space ratio (FSR)

Address: 228 East 15 Street

City: North Vancouver

Name of brokerage: Goodman Commercial Inc., Vancouver

Agents: Cynthia Jagger, David Goodman