A portfolio of six rental apartment buildings with a total of 66 units, all renovated, in Kitimat, B.C. has sold for $9.9 million, reports Re/Max Commercial Advantage. The sale price is equal to $150,000 per door.
Breakdown:
Property type: Multi-family rental portfolio
Number of buildings: 6
Number of units: 66 (all renovated)
Land size: Three acres
Sale price: $9.9 million
Price per suite: $150,000
Capitalization rate: 7-8 per cent range
Estimated rent per square foot: $2.50 (approx.)
Brokerage: Re/Max Commercial Advantage, Vancouver
Broker: Noel Llewellyn
