A large multi-family complex in Maple Ridge has sold for over 10.8 million, HQ Commercial’s The Goodman Report team announced.
The 44-unit complex is comprised of eight buildings on an improved 3.86-acre lot. Each two-storey unit includes a fences backyard and a covered parking area. All units have three bedrooms. The property has a present capitalization rate of 4 per cent with potential for future redevelopment. The property’s net operating income is $510,212. The property was listed by HQ Commercial for $12,825,000 and has an assessed value of $6.9 million.
Brookside Gardens is located at 20834 Dewdney Trunk Rd., Maple Ridge.
Breakdown:
Price: $10,831,000
No. of Units: 44
Price/Unit: $246,159
Lot Size: 3.86 acres
Property Type: Multi-family
2016 B.C. Assessment Value: $6,908,000
Date of Sale: 05/10/2017
City: Maple Ridge
Province: B.C.
Name of Brokerage: HQ Commercial
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