Skip to content

Lower Lonsdale rentals with major redevelopment potential sold for $7.9 million

Twin Manor in North Vancouver sold for $316,000 per door with 45,905 square feet of potential buildable area
twin manor
Price: $7,900,000
No. of Units: 25
Price/Unit: $316,000
Lot Size: 17,656 SF
Property Type: Multi-family
Zoning: RM-1
2016 B.C. Assessment Value: $6,508,000
Date of Sale: 02/10/2017
City: North Vancouver 
Province: B.C. 
Name of Brokerage: JLL Canada
 
Two attached apartment complexes in North Vancouver have sold for $7.9 million, David Venance of JLL reports. 
 
Twin Manor is situated on nearly 18,000 square feet of medium density residential land, offering developers opportunity for future redevelopment. The site has potential for approximately 45,905 square feet of buildable area. The property was listed on the market for $9 million and has an assessed value of $6.5 million. The sale includes 25 residential rental units, included 12 one-bedroom suites, 11 two-bedroom units and two bachelor suites. 
 
The property is located at 127 & 129 E 12th St., in Lower Lonsdale. 
 

 

Do you have a Done Deal you'd like to promote? Submit here for a free posting!