Nanaimo rental apartment building sold for $1.25M

The 10-unit property includes eight two-bedroom townhouse suites

By
for Western Investor
January 30, 2019





buckingham
 
A 10-unit multi-family property in Nanaimo has sold for $1.25 million, CBRE Vancouver tells Western Investor.
 
The Buckingham Arms Apartments is a two-storey building with two one-bedroom suites and eight two-bedroom townhouse units. The property has undergone renovations to 60 per cent of the suites. The property has a capitalization rate of 4.77 per cent and an assessed value of $1.26 million. 
 
The property is located at 420 Holly Ave., Nanaimo. 
 

Breakdown: 

 
Price: $1,250,000
No. of Units: 10
Price/Unit: $125,000
Lot Size: 14,157 SF
Property Type: Multi-family 
Zoning: R8
2018 B.C. Assessment Value: $1,267,000
City: Nanaimo    
Province: B.C. 
Name of Brokerage: CBRE Vancouver 
 

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Lance Coulson is the Executive Vice President of CBRE’s National Apartment and Investment Properties Group BC with 21-plus years of experience in commercial real estate, specializing in multi-family properties.

CBRE Canada
Suite 2500, 1021 W Hastings St.
Vancouver, B.C. V6E 0C3
Office: 604-662-5141

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