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
Copyright © Western Investor
No. of Units: 45
Property Type: Multi-family
2016 B.C. Assessment Value: $13,755,000
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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