New Westminster apartments sold for more than $2M above value

The 15-unit rental property has an assessed value of $3.58 million and sold for $5.9 million

By
for Western Investor
September 5, 2018





third avenue
 
A 15-unit rental building in New Westminster has sold for $5.9 million, CBRE Vancouver reports. 
 
The three-storey walkup was built in 1959 and has an assessed value of $3.58 million. The building sold for approximately $393,333 per suite. 
 
The property is located at 304 Third Ave., New West. 
 

Breakdown: 

 
Price: $5,900,000
No. of Units: 15
Price/Unit: $393,333
Lot Size: 8,712 SF
Property Type: Multi-family 
2017 B.C. Assessment Value: $3,581,000
City: New Westminster    
Province: B.C. 
Name of Brokerage: CBRE Vancouver
 

 

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Lance is executive vice president of CBRE’s National Apartment and Investment Properties Group with close to 20 years of experience in commercial real estate.

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

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