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
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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.
No. of Units: 10
Lot Size: 5,400 SF
Property Type: Multi-family
2016 B.C. Assessment Value: $3,523,000
Name of Brokerage: HQ Commercial