Kitsilano apartment building sold for $500K per unit

The 21-unit property sold for a total of $10.5 million, more than $2 million above its assessed value

By
for Western Investor
October 23, 2018





2nd ave
 
A 21-unit apartment building in Kitsilano has sold for $10.5 million, NAI Commercial tells Western Investor. 
 
The two-storey building was built in 1966 and sold for $500,000 per suite. The apartment is situated on a 12,000-square-foot lot, with an assessed value of $8,218,000. 
 
The property is located at 2050 West 2nd Ave., Vancouver.
 
 

Breakdown: 

 
Price: $10,500,000
No. of Units: 21
Price/Unit: $500,000
Lot Size: 12,000 SF
Property Type: Multi-family 
Zoning: RM-4 
2017 B.C. Assessment Value: $8,218,000
Date of Sale: 10/17/2018
City: Vancouver  
Province: B.C. 
Name of Brokerage: NAI Commercial 
 
 

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Terry has over 34 years of experience as a real estate specialist in multi-family investments.

NAI Commercial
Suite 1300, 1075 West Georgia St.
Vancouver, B.C. V6E 3C9
Office: 604-691-6630

Brandon has worked in real estate since he was 18 years old and specializes in multi-family investment sales.

NAI Commercial
Suite 1300, 1075 West Georgia St.
Vancouver, B.C. V6E 3C9
Office: 604-691-6630

Jackson is vice-president of NAI Commercial and began working as a commercial realtor with the company in 1987. He specializes in multi-family sales.

NAI Commercial
Suite 1300, 1075 West Georgia St.
Vancouver, B.C. V6E 3C9
Office: 604-691-6630

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