Rental buildings near Davie Village sold for $17.2 million

The two properties sold last year for more than $3 million above their combined assessed value

By
for Western Investor
April 25, 2017





davie village
 
Price: $17,175,000
No. of Units: 45
Price/Unit: $383,333
Property Type: Multi-family
Zoning: RM
2016 B.C. Assessment Value: $13,755,000
City: Vancouver
Province: B.C.
Name of Brokerage: CBRE Vancouver 
 
Two rental properties sold near the Davie Village for almost $17.2 million last year, according to CBRE Vancouver. 
 
Solway Firth and Moray Firth have 45 units altogether and sold for $383,333 per suite. The buildings have a reported capitalization rate of 2.7 per cent. The wooden-frame, low-rise buildings have a combined assessed value of $13.7 million – over $3 million below the properties’ sale price. 
 
The rental apartments are located at 1230 and 1270 Burnaby St., Vancouver. 
 

 

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Lance Coulson is the Executive Vice President of CBRE’s National Apartment and Investment Properties Group BC with 21-plus years of experience in commercial real estate, specializing in multi-family properties.

CBRE Canada
Suite 2500, 1021 W Hastings St.
Vancouver, B.C. V6E 0C3
Office: 604-662-5141

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