Boutique apartment building near Commercial Drive sold for $5.9M

The 10-unit apartment underwent full renovations in 2017

By
for Western Investor
February 19, 2019





commercial william
 
A 10-unit boutique apartment building near Commercial Drive has sold for $5.9 million, JLL tells Western Investor. 
 
The fully renovated, three-storey property was built in 1913. The property is fully occupied by professional tenants on two-year leases. Rents average $2,583 per month, with a net operating income of $281,141 per year.
 
The property is located at 1727 William St., Vancouver. 
 

Breakdown: 

 
Price: $5,900,000
No. of Units: 10
Price/Unit: $590,000
Lot Size: 4,125 SF 
Property Type: Multi-family 
Zoning: RT-5 
2018 B.C. Assessment Value: $6,246,000
Date of Sale: 01/28/2019
City: Vancouver   
Province: B.C. 
Name of Brokerage: JLL Canada 
 

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Patrick is vice-president of JLL Canada in Vancouver and a member of the multi-family investment team.

JLL Canada
14th Floor, 355 Burrard Street
Vancouver, BC V6C 2G6
Office: 604-789-0720

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