A 48-year-old walk-up rental building in Marpole sold for $4.4 million, according to The Goodman Report.
The apartment complex has 13 units with a net operating income of $97,431. The building is situated on a large corner lot with spacious balconies and patios. The complex has undergone many upgrades, including a new roof and hot water tank, as well as some renovations to the bathrooms and countertops in the kitchens. Glen Apartments has a capitalization rate of 2.24 per cent. The sale was brokered by Mark Goodman and Cynthia Jagger of HQ Commercial.
Glen Apartments is located at 8685 Osler St., Vancouver.
Do you have a Done Deal you'd like to promote? Submit here for a free posting!
Sign Up For Our Newsletter!
Western Investor emails a weekly newsletter with top commercial real estate headlines from across Western Canada, including forecasts, opinion, analysis and exclusive content.