Kitimat apartment portfolio sold for $150K per door

Six buildings with 66 units, all renovated, fetch total sale price of $9.9 million

By
for Western Investor
November 5, 2019





dd kitimat apartment portfolio

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


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