Esquimalt oceanfront rental community sold for $19.1M
The 85-unit property is situated on a 1.71-acre lot
Copyright © Western Investor
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.
No. of Units: 85
Lot Size: 1.71 acres
Property Type: Multi-family
2018 B.C. Assessment Value: $19,075,000
Date of Sale: 05/14/2019
Name of Brokerage: Avison Young
Do you have a Done Deal you'd like to promote? Submit here for a free posting!