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New Westminster rental complex sold for $11.2M

The property sold for over $215K per suite
ash street
 
A 52-unit rental apartment complex in New West has sold for $11.2 million, CBRE Vancouver reports. 
 
The building was constructed in 1968, situated on 29,083 square feet of land. The property sold for more than $3 million more than its assessed value of nearly $9 million. Each unit sold for an average of $215,284 per suite. 
 
The property is located at 222 Ash St., New Westminster. 
 
 

Breakdown:  

 
Price: $11,200,000
No. of Units: 52
Price/Unit: $215,384 
Lot Size: 29,083 SF 
Property Type: Multi-family 
2016 B.C. Assessment Value: $8,998,000
City: New Westminster 
Province: B.C. 
Name of Brokerage: CBRE Vancouver