Skip to content

Powell River 59-unit rental property sold for $6.25M

Sold below asking at a cap rate of 4.9 per cent
Glacier Apartments, a three-storey rental property in Powell River with 59 units, sold Feb. 5 for $6.25 million.

DEAL | Glacier Apartments at 7080 Glacier Street in Powell River sold Feb. 5 for $6,250,000, a discount to the asking price of $7.2 million and the assessed value of $8,007,000. The sale price worked out to $106,000 per door for the three-storey, 59-unit property, which sits on 1.54 acres. Built in 1968, the property was recently upgraded with double-paned windows (2013) and sliding glass doors (2019) to improve energy efficiency.

PRICE | $6,250,000

FROM | Mark Goodman and Ian Brackett, Goodman Commercial