New Westminster rental apartment sold for $5.95M
The 25-unit building sold for $238,000 per suite
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A 25-unit New Westminster rental apartment building has sold for $5.95 million, CBRE Vancouver reports.
The Somerset is a wood frame property constructed in 1966, consisting of bachelor, one-bedroom, two-bedroom and three-bedroom suites. The apartment sold for $238,000 per suite. The property has an assessed value of $6.61 million and is ripe for redevelopment potential.
The property is located at 525 Tenth St., New Westminster.
No. of Units: 25
Lot Size: 17,870 SF
Property Type: Multi-family
2018 B.C. Assessment Value: $6,616,000
City: New Westminster
Name of Brokerage: CBRE Vancouver
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