Vancouver apartment building sold for nearly $500K per suite

The 19-unit property sold for a total of $9.47 million - nearly $4 million above its assessed value

By
for Western Investor
June 18, 2018





west 10th
 
A 19-unit apartment building near Broadway-City Hall SkyTrain Station has sold for $9.47 million, NAI Commercial reports. 
 
The two-storey building was built in 1967, with an assessed value of $6.57 million. The property sold for approximately $498,684 per suite, for a total of nearly $4 million above its value. The building is situated on a 12,406-square-foot lot near the future Canada Line Broadway Extension. 
 
The property is located at 230 West 10th Ave., Vancouver. 
 
 

Breakdown: 

 
Price: $9,475,000
No. of Units: 19
Price/Unit: $498,684
Lot Size: 12,406 SF 
Property Type: Multi-family 
Zoning: RM-4
2017 B.C. Assessment Value: $6,571,000
Date of Sale: 05/04/2018 
City: Vancouver   
Province: B.C.
Name of Brokerage: NAI Commercial 
 

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Jackson is vice-president of NAI Commercial and began working as a commercial realtor with the company in 1987. He specializes in multi-family sales.

NAI Commercial
Suite 1300, 1075 West Georgia St.
Vancouver, B.C. V6E 3C9
Office: 604-691-6630

Terry has 39 years of experience as a real estate specialist in multi-family investments.

NAI Commercial
Suite 1300, 1075 West Georgia St.
Vancouver, B.C. V6E 3C9
Office: 604-691-6615

Brandon has worked in real estate since he was 18 years old and specializes in multi-family investment sales.

NAI Commercial
Suite 1300, 1075 West Georgia St.
Vancouver, B.C. V6E 3C9
Office: 604-691-6630

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