Kitsilano renovated apartment sold for more than $807K per suite

The building sold for $10.5 million - nearly $4 million above its assessed value

By
for Western Investor
October 12, 2017





rental
 
A new Kitsilano rental renovation project has sold for $10.5 million, CBRE Vancouver reports. 
 
The building is being renovated to include a 4th floor addition and remodeled interiors to the 1964 structure. The property has an assessed value of over $6.6 million and sold for a whopping $807,692 per suite. The apartment sold for it’s full list price. 
 
The property is located at 2150 W 1st Ave., Vancouver. 
 

Breakdown: 

 
Price: $10,500,000
No. of Units: 13
Price/Unit: $807,692
Property Type: Multi-family 
2016 B.C. Assessment Value: $6,627,000
City: Vancouver 
Province: B.C. 
Name of Brokerage: CBRE Vancouver 
 

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Lance Coulson is the Executive Vice President of CBRE’s National Apartment and Investment Properties Group BC with 21-plus years of experience in commercial real estate, specializing in multi-family properties.

CBRE Canada
Suite 2500, 1021 W Hastings St.
Vancouver, B.C. V6E 0C3
Office: 604-662-5141

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