Marpole rental building sold for $380K per suite

Hudson Apartments sold for a total of $3.8M, with a capitalization rate of 2.7 per cent

By
for Western Investor
November 29, 2017





hudson apartments
 
A 10-suite rental apartment in Vancouver’s Marpole neighbourhood has sold for $3.8 million, according to The Goodman Report team at HQ Commercial. 
 
Hudson Apartments was built in 1996, with a net rentable area of 5,013 square feet. The property consists of one-bedroom suites with an average square footage of 501 square feet, with an average rent of $1,091. The property has a 2.7 per cent capitalization rate. The site sold for slightly over its assessed value, at $380,000 per suite.
 
The property is located at 8638 Hudson Ave., Vancouver. 
 

Breakdown: 

 
Price: $3,800,000
No. of Units: 10
Price/Unit: $380,000
Lot Size: 5,400 SF
Property Type: Multi-family 
Zoning: RM-3A
2016 B.C. Assessment Value: $3,523,000
City: Vancouver 
Province: B.C. 
Name of Brokerage: HQ Commercial 

Mark Goodman is a principal at Goodman Commercial and specializes in the rental apartment and development site market in Metro Vancouver. He is also a co-publisher of The Goodman Report.

Goodman Commercial
560–2608 Granville Street,
Vancouver, B.C. V6H 3V3
Office: 604-558-5511
www.goodmanreport.com

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