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Maple Ridge apartment block sells for $181.6K per door

A 30-suite multi-family rental building in Maple Ridge throws a 4.2 per cent cap rate and sold for above assessed value during pandemic.
Western Investor Staff
London Pacific Browne
Mike Guinan-Browne, London Pacific Property Agents, for Western Investor

Property type: Multi-family rental 

Location: 22182 Dewdney Trunk Road, Maple Ridge

Number of units: 30

Land size: 27,878 square feet (0.64 acre)

Zoning: RM-3 (High-density multi-family)

Floor space ratio: 2.2 FSR 

BC Assessment 2020: $4.6 million

List price: $6.1 million

Sale price: $5.4 million

Price per door: $186,600

Date of sale: June 11, 2020

Brokerage: London Pacific Property Agents Inc., Vancouver

Broker: Mike Guinan-Browne