Skip to content

South Granville rental highrise sold for $475K per suite

The 48-unit The Leeward building sold for a total $22.8 million
the leeward
 
A high-rise rental apartment tower in Vancouver’s South Granville neighbourhood sold for $22.8 million. 
 
The 11-storey, 48-unit building has significantly under market rents, offering investors the opportunity to maximize income. The property includes a mix of nine bachelor suites, 35 one-bedroom units and four two-bedroom units. The property sold for over $475,000 per suite. Approximately 30 to 50 per cent of suites have been renovated. 
 
The Leeward is located 1686 W 12th Ave., Vancouver.  
 

Breakdown: 

 
Price: $22,818,000
No. of Units: 48
Price/Unit: $475,375
Lot Size: 29,223 SF
Property Type: Multi-family  
Zoning: RM-3 
2016 B.C. Assessment Value: $18,787,000
City: Vancouver   
Province: B.C.
Name of Brokerage: HQ Commercial 
 

Do you have a Done Deal you'd like to promote? Submit here for a free posting!