A residential land assembly with potential for multi-family development has sold for $30 million, Lee & Associates have announced.
The 14 single-family lots with a combined area of 2.37 acres sold for approximately $2.1 million per lot. The large redevelopment parcel has potential to maximize densities concurrently with OCP amendments. The site is currently zoned for single-family residential but has potential for RM-3 multi-storey, medium density apartment development. The site falls within the core and shoulder of Coquitlam’s Transit-Oriented Development Strategy. The properties are located alone major transit nodes in the centre of Coquitlam, near the new Evergreen Skytrain expansion.
The properties are located at 530-550 Delestre Ave., 316 Loring St. and 527-555 Sunset Ave., Coquitlam.
Breakdown:
Price: $30,000,000
No. of Units: 14
Price/Unit: $2,142,857
Lot Size: 2.37 acres
Property Type: Multi-family
City: Coquitlam
Province: B.C.
Name of Brokerage: Lee & Associates
Name of Buyer: Ledingham McAllister
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