Esquimalt oceanfront rental community sold for $19.1M

The 85-unit property is situated on a 1.71-acre lot

By
for Western Investor
May 21, 2019





dunsmuir house
 
An oceanfront rental apartment complex in the West Bay neighbourhood of Esquimalt has sold for $19.1 million, Avison Young reports. 
 
The 85-unit Dunsmuir House is held in a bare trust, has below market rents, a proven renovation program, low vacancy rate, clean environmental report and is professionally managed. The property sold for approximately $224,705 per unit. 
 
The property is located at 831 Dunsmuir Rd., Esquimalt.
 
 

Breakdown: 

 
Price: $19,100,000
No. of Units: 85
Price/Unit: $224,705 
Lot Size: 1.71 acres 
Property Type: Multi-family 
Zoning: RM-4 
2018 B.C. Assessment Value: $19,075,000
Date of Sale: 05/14/2019
City:  Esquimalt  
Province: B.C. 
Name of Brokerage: Avison Young 
 

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Chris is a principal at Avison Young, specializing in multi-family investment.

Avison Young Commercial Real Estate
2900 - 1055 West Georgia Street
Vancouver, BC V6E 3P3
Office: 604-687-7331

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