An 11-unit Nanaimo rental apartment building has sold for $1.67 million, nearly $600,000 above its B.C. Assessment value. The per-unit sale price was $163,181.
Breakdown:
Property type: Multi-family rental
Number of units: 11
Sale price: $1.67 million
2019 assessed value: $1.08 million
Per-door price: $163,181
Capitalization rate: 3.7%
Property location: Benson Street, Nanaimo
Lot size: 8,712 square feet
Date of sale: August 26, 2019
Brokerages: Goodman Commercial Inc., Cushman & Wakefield
Agents: Mark Goodman, Cynthia Jagger (Goodman); Tim Sommer (Cushman & Wakefield)