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February 2016: Burnaby rentals fetch $209,000 per door

Three-building apartment portfolio built in late 1960s and early 1970s sells for $25.4 million in Highgate neighbourhood
Old Burnaby apartment blocks
Old Burnaby apartment blocks are proving a prime investment
David and Mark Goodman of HQ Commercial, Vancouver, have sold a three-building 121-suite rental apartment portfolio in Burnaby's Highgate neighbourhood. The trio of apartment buildings date to the late 1960s and early 70s, but the price is totally up-to-date. The portfolio sold for $25.4 million, or an average of $209,000 per door. The properties are well maintained and close to the Highgate Shopping Centre, Edmonds Community Centre and various amenities, Mark Goodman said.
The Goodmans also announced the recent sale of a 2.1-acre development site at 850 SW Marine Drive in Vancouver. It sold for $25.2 million, or about $12 million per acre. 
From: Homelife Glenayre Realty Co. Ltd., Surrey
Agent: Doug Neetz, with listing agent Todd Brohn of Frontline Real Estate Services, Surrey
Deal: 12,000-square-foot commercial building, Clearbrook Road, Abbotsford
Price: $2.45 million
From: NAI Commercial, Vancouver
Agent: Rick Lui 
Deal: 11,846-square-foot retail block covering 10,742 square feet with frontage on Denman Street and Haro Street in Vancouver’s West End
Price: $13 million
Agents: Terry Harding, Jackson Tang and Brandon Harding 
Deal: 48-unit rental apartment building, corner of Royal Avenue and First Street, near Columbia SkyTrain, New Westminster
Price: $7.5 million
Deal: 10-unit apartment building, Sussex Street in Metrotown area of Burnaby
Price: $2.65 million
Agent: Ted Weibalzahl 
Deal: 37,000-square-foot industrial building on 3.5 acres, Progress Way, Chilliwack
Price: $3.5 million.
From: NAI Commercial, Langley
Submitted by: NAI agent Gary Niesner and NAI vice-president Don MacDonald
Deal: 17,028 square feet of retail space divided into 16 CRUs below condominiums, King George Boulevard, South Surrey
Price: $8 million
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