Coquitlam rental building sold for $10.1M

The 42-unit building sold for approximately $240,476 per suite

for Western Investor
August 27, 2018

maryon manor
A 42-unit rental apartment building in Coquitlam has sold for $10.1 million, JLL Canada reports. 
Maryon Manor is situated on a 26,520-square-foot corner lot, with a 4 per cent capitalization rate.  Twenty-nine of the 42 rental suites have been renovated. The building consists of six bachelor suites, 24 one-bedroom units and 12 two-bedroom suites. The building was built in 1971 with a net operating income of $410,710. 
The property is located at 1035 Howie Ave., Coquitlam. 


Price: $10,100,000
No. of Units: 42
Price/Unit: $240,476 
Lot Size: 26,520 SF 
Property Type: Multi-family 
Zoning: RM-2 
2017 B.C. Assessment Value: $9,558,000
City: Coquitlam 
Province: B.C. 
Name of Brokerage: JLL Canada 

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David is vice president of JLL and specializes in the sale of investment properties, transacting over $100 million in multi-family real estate sales.

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