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Nanaimo 27-suite multi-family sells for $6.2 million

Sale price was $100,000 over list for property close to downtown, with all rentals as one-bedroom units. It sold at a 5.09 per cent cap rate, agents say.
Macdonald Commercial, Vancouver, for Western Investor

Property type: Multi-family rental building

Location: 116 Prideaux Street, Nanaimo, B.C.

Number of units: 27

List price: $6.1 million

Sale price: $6.2 million

Brokerage: Macdonald Commercial, Vancouver

Brokers: Dan Schulz and Chris Winckers