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North Van multi-family sells $2 million over assessment

The 59-year-old, 22-unit apartment building, on 0.41 acres near Lions Gate Hospital, sold in an off-market deal for $10.35 million.
1612 St. Georges
London Pacific Property Agents Inc.,Vancouver, for Western Investor

Property type: Multi-family rental

Location: 1612 St. Georges Avenue, City of North Vancouver, B.C.

Number of units: 22

Land size: 18,060 square feet

Land size in acres: 0.41 acres

Zoning: RM-1

Potential: OCP designated area with a maximum residential density of 2.6FSR.

BC Assessment value (2021): $8.28 million

Sale price: $10.35 million

Date of sale: August 20, 2021.

Brokerage: London Pacific Property Agents Inc., Vancouver

Broker: Mike Guinan-Browne. (Ari Gelman of London Pacific Property agents represented the buyer.)