Coquitlam rental building sold for $10.1M
The 42-unit building sold for approximately $240,476 per suite
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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.
No. of Units: 42
Lot Size: 26,520 SF
Property Type: Multi-family
2017 B.C. Assessment Value: $9,558,000
Name of Brokerage: JLL Canada
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