A 22-unit rental apartment building along the highly sought-after Cambie Village corridor has sold for $10.2 million, JLL Canada tells Western Investor.
The Elaine Apartments is situated on a corner lot and comprised of approximately 13,290 sf of RM-3A zoned land along on Vancouver’s prestigious West Side neighbourhood. The recently-improved building is currently professionally managed and maintained by Transpacific Realty Advisors. The opportunity is highlighted by its proximity to the King Edward Canada Line station, and the significant property value-add potential and subsequent revenue upside.
The property is located at 3819-21 Cambie St., Vancouver.
Breakdown:
Price: $10,200,000
No. of Units: 22
Price/Unit: $463,636
Lot Size: 13,290 SF
Property Type: Multi-family
Zoning: RM-3A
2016 B.C. Assessment Value: $7,454,000
Date of Sale: 11/27/2017
City: Vancouver
Province: B.C.
Name of Brokerage: JLL Canada