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Vancouver 12-unit old time rental sells for $466K per door

Built in 1930 on a 6,000-square-foot lot on West 1st Avenue, close to Kits Beach, the multi-family building sold for $5.6 million at a 4.2 per cent cap rate
Goodman Commercial Inc., Vancouver, for Western Investor
2295-w-1st-ave-5
Goodman Commercial Inc., Vancouver, for Western Investor

Property type: Multi-family rental

Location: 2295 West 1st Avenue, Vancouver

Number of units: 12

Property size: 8,250 square feet (net rentable)

Lot size: 6,000 square feet

Zoning: RM-4

Date of sale: April 28, 2023

Sale price: $5.6 million

Brokerage: Goodman Commercial Inc.,  Vancouver

Brokers: Mark Goodman, Cynthia Jagger and Ian Brackett