A 62-year old, 11-unit rental apartment building in North Vancouver sold for slightly above its assessed value for $5.2 million, the equivalent of more than $472,000 per suite.
Breakdown:
Price: $5.2 million
BC Assessment value (July 2018): $5.16 million
Property type: Multi-family rental building
Number of units: 11
Price per unit: $472,727
Lot size: 7,462 square feet
Zoning: R-6; high-density, 3 floor-space ratio (FSR)
Address: 228 East 15 Street
City: North Vancouver
Name of brokerage: Goodman Commercial Inc., Vancouver
Agents: Cynthia Jagger, David Goodman