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Rental apartment near Commercial Drive sold at $376K per door

The eight-unit building sold for $3,015,000 with a capitalization rate of 3.4 per cent
commercial drive apartment
 
Price: $3,015,000
No. of Units: 8
Price/Unit: $376,875 
Lot Size: 8,556 SF
Property Type: Multi-family
Zoning: RM
2016 B.C. Assessment Value: $2,957,000
City: Vancouver
Province: B.C.
Name of Brokerage: Re/Max Select Realty & Sutton Group West Coast 
 
An eight-unit near Commercial Drive rental complex has sold for just over $3 million, Western Investor has learned. 
 
The eight suites are each about 1,140 square feet. The units feature two bedrooms and one bathroom on the top level, with an open-plan main level with a west facing balcony and a partially finished basement. The apartment building has a capitalization rate of 3.4 per cent. 
 
The property is located at 1957 E 3rd Ave., Vancouver. 
 
 
 

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