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Kitsilano rental building sold for above asking

A 10-unit apartment complex in Vancouver's West Side drew interest from multiple buyers before selling for $4.3 million
esquire
The 10-unit building was listed on the market for $4 million.
Price: $4,300,000
No. of Units: 10
Price/Unit: $400,000 
Lot Size: 6,250 SFL
Property type: Multi-family
Zoning: RM-4
2015 B.C. Assessment Value: $2,575,000
City: Vancouver
Province: B.C.
Name of Brokerage: HQ Commercial 
 

Esquire Apartments sold for $4.3 million on Sept. 24, $300,000 above its $4 million asking price. The 3-storey walk-up was built in 1949.

The market response to the property was overwhelming, said Mark Goodman of The Goodman Report, who announced the unconditional sale on Oct. 19. Twenty-five groups toured through the property and multiple offers were made. Cynthia Jagger of HQ Commercial was the broker on the sale. 

The property features 10 suites, including eight one-bedrooms and two bachelor units. The rental profit average is $1.57 per square foot. 

Esquire Apartments in located at 2424 West Broadway. 

 

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